Why it pays to arrange an LPA as early as possible

By DRN Solicitors

17 Oct 2017

It can be heart-breaking watching a loved one suffer mental illness, whether a result of old-age, illness or injury. For most of us when we are going through this hardship, it can be easy to deny the reality of the situation.

What could start off with minor changes in behaviour – such as your loved one becoming more forgetful, can quickly lead to more serious problems where they need a lot of assistance day to day.

For those willing to consider every eventuality before they become a reality, there are many benefits. Getting a Lasting Power of Attorney (LPA) in place many years before you’re affected, can make the whole process much easier to come to terms with for all involved.

LPAs, given the right circumstances, get power over finances, healthcare and place of residence, so it is essential to choose those that you trust implicitly to manage your future, should you become unable to do so yourself. Getting your LPA in place early can have significant advantages, some of which are addressed here…

You make the decision

Take advantage of your opportunity to appoint the person, or people, that you trust to act on your behalf. If you don’t arrange your LPA prior to becoming incapacitated, this power is passed to the courts to appoint your legal representative. This could be a rogue relative that is only interested in benefiting themselves, with no regard for your best interests.

You decide on any limitations

You can also take advantage of two different forms of LPAs: property and affairs, and personal welfare. Design your LPA framework to suit your own unique family circumstances, don’t leave this decision to a judge who doesn’t know your loved ones like you do.

Nominate successors

Should anything happen to incapacitate your LPA, or in the event of their death, you can nominate successors to take their place. Again, take advantage of establishing the entire framework yourself.

Act now

These are just a few examples that illustrate the importance of appointing your trusted LPA as early as possible. It truly can pay to protect yourself and your family should the worst happen; both financially and emotionally.

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