I am passionate about this topic and breaking down misconceptions! A Lasting Power of Attorney
(LPA) document within Society is often thought of as a document only needed by an older person and its understandable to see why. An LPA is a legal document that allows you to appoint someone
(or more than one person) to act on your behalf and make decisions if you are unable to due to a
loss of mental capacity. These decisions can be financial or related to health and welfare. Causes of a
loss of mental capacity are frequently associated with older age groups, such as Alzheimer’s,
dementia or just simply old age and being vulnerable.
What about a younger person?
Take me for example. I have a wife, two young children and a substantial mortgage. I am the main earner in our family, and I also run my own business. In reality I don’t lie awake at night worrying about being diagnosed with dementia or Alzheimer’s soon and it leaving me in a position where I am unable to make decisions for myself. For me, that’s not my risk today. My risk is an accident, whether that be a car accident, slip and hit my head out running or something similar. This could lead to me being alive, but without the capacity to make decisions or access accounts. What would the impact be on my family and business if no decisions can be made?
My family would be suffering emotionally, but they would also struggle financially if there was no
LPA in place. If my bank accounts were frozen due to a lack of mental capacity, how would my wife
pay the mortgage? How would utility bills be paid? An LPA would give my family one less thing to
worry about at a very difficult time.
Of course, I am not saying a younger person in my situation is more important than an elderly
person, but I just want to highlight that I believe everyone over the age of 18 should be aware of
what an LPA is and how it works and most importantly what happens if you don’t have one and it is
If this has made you think you need an LPA, please get in touch and make an appointment with one
of our advisors.