Why You Shouldn't Wait to Set Up an LPA

Most people think of a Lasting Power of Attorney (LPA) as something for the elderly. The reality? An LPA is a "just in case" insurance policy for adults of all ages.

The "Why": 4 Reasons You Need an LPA

1. No One Has an "Automatic" Right

There is a common myth that your next of kin (spouse, partner, or eldest child) can automatically step in if you are incapacitated. This is not true. Without an LPA, banks will freeze your accounts and doctors may make medical decisions without your family’s input.

2. Avoid the "Court of Protection" Nightmare

If you lose capacity without an LPA, your family must apply to the Court of Protection for a "Deputyship."

• Cost: It can cost over £3,000 in legal fees (vs. £92 for an LPA).

• Time: It takes 6–12 months on average.

• Stress: Your family may be unable to pay your mortgage or bills during this waiting period.

3. You Choose Who You Trust

In an LPA, you hand-pick your "Attorneys." If the court has to appoint a Deputy, it might not be the person you would have chosen.

4. Peace of Mind for Your Loved Ones

During a health crisis, the last thing your family needs is a legal battle. An LPA gives them the "keys" to help you immediately, reducing their emotional burden.

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Checklist: Is it time for you to do an LPA?

• [ ] I am over 18.

• [ ] I own a home or have a bank account in my name.

• [ ] I want to ensure my medical wishes (like life-sustaining treatment) are respected.

• [ ] I have someone I trust implicitly to look after my affairs.

• [ ] I want to save my family from future legal stress and high costs.

The Golden Rule: You can only set up an LPA while you have "mental capacity." Once you need it, it’s often too late to make one.

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