Power of attorney
Why a Lasting Power of Attorney Matters
Many people assume that if they become ill or have an accident, their spouse or family can automatically step in and make decisions on their behalf. In reality, this is not the case.
A Lasting Power of Attorney (LPA) is a legal document that allows you to choose trusted people to act as your voice if you become unable to make decisions yourself. It gives them the authority and practical powers needed to manage important matters at a critical time.
Having an LPA in place provides reassurance that both you and your family are protected, reducing uncertainty and stress during an already difficult period.
The Two Types of LPA
Property and Financial Affairs
This allows your attorneys to manage your financial life, including paying bills and mortgages, accessing bank accounts, handling pensions and investments, managing benefits, and buying or maintaining property. They can also communicate with professionals such as banks, accountants and financial advisers.
If you run a business, an LPA is especially important to ensure it can continue operating. You can also create a separate arrangement if you want different attorneys to handle personal finances and business matters.
Health and Welfare
This covers decisions about your care and wellbeing, including where you live, daily care arrangements, medical treatment, alternative therapies, and end-of-life wishes. It allows your attorneys to speak directly with medical and care professionals so your preferences and beliefs are respected and followed.
Without an LPA, your family would need to apply to the Court of Protection for permission to act on your behalf. This process can take months and may cost thousands in legal and medical fees. During that time, accounts may be frozen and important decisions delayed. Marriage or joint accounts do not automatically grant decision-making authority.
Putting an LPA in place helps avoid unnecessary stress, delay and expense while ensuring the people you trust can support you when it matters most.
How Balance Consultancy Can Help
Balance Consultancy provides a complete service for preparing and registering Lasting Power of Attorney applications. We handle the paperwork and the process on your behalf, making it straightforward and stress-free.
Our goal is to give you peace of mind, knowing the right protections are in place for you and your family.