The importance of having a Lasting Power of Attorney

By Kieran Drew
In August 25, 2017
Comments off

A Lasting Power of Attorney (LPA) is a legal document that lets you appoint one or more people to help you make decisions or to make decisions on your behalf.

This gives you more control over what happens to you if you have an accident or an illness and lack mental capacity to make decisions for yourself.

There are 2 types of LPA:

Health and welfare Lasting Power of Attorney

This LPA gives an attorney the power to make decisions on areas, such as:

  • your daily routine, for example washing, dressing, eating
  • medical care
  • moving into a care home
  • life-sustaining treatment

Property and financial affairs Lasting Power of Attorney

This LPA gives an attorney the power to make decisions about money and property for you, for example:

  • managing a bank or building society account
  • paying bills
  • collecting benefits or a pension
  • selling your home

The importance of Lasting Power of Attorney

It is a common misconception that people believe that their next of kin would automatically be able to take care of their affairs should mental capacity be lost, but this is not the case.  Failure to have an LPA in place will mean next of kin would have to make an application to the Court of Protection to become your Deputy – which is both costly and lengthy. You also run the risk that the person appointed by the Court to handle your affairs may not be the person you would have chosen.

At Redwood, we can help you draw up a Lasting Power of Attorney so that  you can arrange to have your affairs managed by someone of your choice during your lifetime if you become unable to do so yourself. If you would like to learn more about LPA’s why not come along to one of our upcoming seminars?

Further information can be found here!

Comments are closed.


Redwood Financial Family Wealth & Estate Planners Ltd is Directly Authorised and regulated by the Financial Conduct Authority. FRN number 774469.

Subscribe to our free monthly Wealth Management update.


The Financial Conduct Authority do not regulate, Will Writing, Buy to Let Mortgages, Auto-Enrolment, Tax Advice and Estate Planning. Your capital is at risk. Investments can fluctuate in value and investors may not get the amount back they invest. The guidance and/or advice contained within the website is subject to the UK regulatory regime and is therefore primarily targeted at customers in the UK.

Contact us

Telephone: 01489 877547

Company information

Redwood Financial Family Wealth and Estate Planners Ltd Company Number: 08926661
Registered Office Address: Wellesley House, 204 London Road, Waterlooville, Hampshire,