I have a will, do I need a LPA as well?

Difference between will and Lasting Power of Attorney

It is a common misconception that if you have a Will in place, you do not need a Lasting Power of Attorney (LPA) or that you can appoint an attorney in a Will.

Wills and LPAs are separate legal documents and have different purposes. A Will deals with who should inherit your assets and only comes into effect on your death. LPAs are for your lifetime, and they end on your death. LPAs allow you to appoint attorneys to deal with your affairs in your lifetime should you become incapable of doing this yourself. You cannot appoint an attorney in your Will.

What are LPAs?

LPAs are legal documents which allow you to appoint someone you trust to deal with either your financial and property affairs or health and welfare decisions on you behalf should this be necessary or desirable in the future.

Types of LPA

There are two types of LPA:

• LPA for property and affairs – Under this LPA you can appoint individuals to make decisions about your property and financial affairs e.g. managing your bank account, transferring funds, paying bills, buying/selling property etc. This type of LPA can be used while you still have mental capacity if you wish. This could be useful in several situations, for example you may be going on holiday for an extended period of time or you may have planned surgery and you would like your appointed attorneys to assist with your affairs during this time.
• LPA for health and welfare decisions – This LPA is similar to the other LPA but a fundamental difference is that is can only be used if you do not have mental capacity to make decisions for yourself. This LPA covers decisions such as where you live, who you have contact with, your health treatment and appointments etc. You can also choose to give your attorneys permission to make decisions about live-saving treatment.

Who should I appoint as my attorney(s)

You can appoint one or more persons to be your attorney and you can also appoint replacement attorneys in case the original attorney becomes unable to act.

It is very important to appoint someone you trust to be your attorney. This may be a close family member or friend. If you do not have a family member or friend you can appoint, then for the financial LPA it is possible to appoint a professional such as a solicitor or accountant.

What happens if I lose mental capacity and do not have LPAs in place?

Without a financial LPA in place, no one has legal authority to manage your affairs on your behalf, not even a spouse or civil partner. If you lose mental capacity, your loved ones would need to apply to the Court of Protection for a Deputyship Order. This is a lengthy and costly process and you would not be able to choose who was appointed as the Court would make this decision.

Without a health and welfare LPA in place, if you lost mental capacity then social workers and medical professionals etc would act in what they believe are your best interests but this may not align with what you would want.

As LPAs take several months to complete, it is important to consider putting them in place whilst you are well and healthy and not leave them until they are urgently needed.

Contact our LPA specialists

If you would like further information about making Lasting Powers of Attorney, please contact our friendly, specialist team on 0191 232 9547 for a no obligation quote or watch this introductory video: