LPAs – Do you really need one?
Making an LPA means that you are giving someone else authority to make decisions for you in relation to your finances or your future health and care. So, why should you do this?
The answer is that this is a simple and sensible step for planning ahead to enable everyday decisions to carry on as normal, in the event of a sudden or gradual onset of incapacity, whether through a serious illness or accident or age-related decline. Having an LPA in place can be seen as being equally important to having insurance cover to provide for yourself and your family against adverse events.
If you lose capacity and have not made an LPA, it may become necessary for a relative, friend or professional to apply to the Court of Protection for appointment under a Deputyship order for authority to manage your financial affairs. An application to the Court is time consuming, costly and stressful, at a time when your family is faced with challenging emotional and financial circumstances.