Why You Should Sort Your Lasting Power of Attorney (LPA) Today

When planning for the future, many people only focus on writing a will – but there’s another key document that you should have in place to save your loved ones time, stress, and money: a Lasting Power of Attorney (LPA).

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If a will is a document that sets out a plan for what happens when you die, an LPA allows you to lay out your wishes for what happens if you were to lose mental capacity e.g. in an accident or due to an illness. It might not be the most cheerful topic, but getting your LPA in place is one of the most thoughtful things you can do for those you care about, and vice versa, that they could do for you.

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Here’s everything you need to know about LPAs, why they’re so important, and how to set one up easily.

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What is a Lasting Power of Attorney (LPA)?

A Lasting Power of Attorney is a legal document that lets you choose someone (or multiple people) to make decisions on your behalf if you lose the ability to do so. This could be due to many reasons, such as illness, an accident, or age-related conditions like dementia.

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There are two types of LPA: Finance & Property, and Health & Welfare. 

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Finance & Property covers decisions about your finances, such as paying bills, managing investments, or selling your home.

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Health & Welfare covers decisions about your medical care, living arrangements, and personal welfare.

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Why is it important to have an LPA?

Life is unpredictable. An LPA ensures your affairs are handled by someone you trust if you’re unable to make decisions yourself. Without one, your family may face delays, added stress, or even court battles to gain decision-making authority.

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Plus, with an LPA, you decide who steps into your shoes and what powers they have. It’s your chance to ensure that the people you trust most are in charge of the decisions that matter to you.

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Who should have an LPA?

In short – everyone. But it’s especially crucial if:

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• You own property or significant assets.
• You want to make life easier for your family in the event of an accident or illness.
• You want to ensure your personal values are upheld in medical or financial decisions.

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Did you know that being married or in a civil partnership doesn’t give you the automatic right to make decisions about your partner’s care, health or finances? This requires an LPA. 

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Without an LPA, even your closest family members won’t have the authority to make decisions on your behalf. They’ll need to go through the Court of Protection to gain permission, which can take months and cost thousands.

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How to set up an LPA

Getting an LPA can be a tricky legal process – and it requires expertise to get right.

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Octopus Legacy is a brilliant company that can expertly lead you through the process, and support you every step of the way.

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This spring, following the success of the Autumn free charity will campaign Octopus Legacy has once again partnered with charities across the UK, so that you can write or update your will for free, until March 31st. 

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But that’s not all – as a special bonus, they’re offering a discounted Lasting Power of Attorney (LPA) service from just £80* when you create your free will.

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Here’s how to get started:

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• Online: Claim your free will and discounted LPA at the following link.
• With Expert Guidance: Want a helping hand? Speak with one of our estate planning experts at +44 330 818 9859 to guide you through the process and answer all your questions.

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*Excluding the standard legal fee required to register the LPA with the government.

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