Planning for the unexpected, why everyone needs an LPA
Despite the growing awareness around estate planning, a surprising number of adults over 40 have yet to arrange a Lasting Power of Attorney, a legal safeguard that could prove essential in times of crisis.
What is a Lasting Power of Attorney?
A Lasting Power of Attorney is a legal document that allows someone you trust to make decisions on your behalf if you become unable to do so. In England and Wales, there are two types of Lasting Power of Attorney:
- Property and Financial Affairs – Covers decisions about money, property and bills.
- Health and Welfare – Covers decisions about medical treatment, care and living arrangements.
You can only set an LPA while you still have mental capacity, meaning you understand the implications of the document and can make informed choices.
The numbers tell a story
Recent research from Canada Life reveals that 78% of UK adults aged 40 and over have not arranged a Lasting Power of Attorney. The reason behind this varies:
- 32% believe they do not need one because they still have full mental capacity.
- 30% have simply never thought about it.
- 20% say they are not in ill health.
- 16% admit to procrastinating.
- 12% cite costs or legal complexity as barriers.
These figures highlight a widespread misunderstanding; many assume Lasting Power of Attorney is only necessary in old age or poor health. It’s about being prepared, because once mental capacity is lost, it’s too late to set one up.
What happens if you don’t have one
Without a Power of Attorney, your loved ones may need to apply to the Court of Protection to make decisions on your behalf. This process can be lengthy, costly, and emotionally draining. Worse still, the court may appoint someone you wouldn’t have chosen yourself.
Contrary to widespread belief, your spouse or partner is not automatically granted Power of Attorney.
Why it matters
Life can change in an instant. Whether through illness, accident or age-related decline losing the ability to make decisions isn’t something we can always predict, but we can prepare for it.
Setting up a Power of Attorney is a thoughtful way to look after both yourself and the people you care about. It gives your loved ones the clarity and confidence to help you when you need it most, without added stress or confusion.
Take control of your future
At Osborne Morris & Morgan, we believe in proactive planning. Whether you’re updating a Will or considering a Lasting Power of Attorney for the first time, our expert Private Client team is here to guide you through every step.
We’re here to help. Contact our friendly team on 01525 378177 or email info@ommlaw.co.uk.
