New figures show that Alzheimer’s disease and other forms of dementia are now the leading cause of death in England and Wales1. That’s why many people are putting a Lasting Power of Attorney (LPA) in place whilst they still have mental capacity, giving them and their families valuable peace of mind for the future.
How you can protect your interests
In the same way that a Will protects your loved ones after you pass away, an LPA is designed to protect your interests if you were to lose the ability to make financial or care decisions on your own behalf.
Making an LPA allows you to choose someone you know and trust to make important decisions should you be unable to do so.
If you lose mental capacity and haven’t made an LPA, then a family member would have to apply to the Court of Protection to be appointed as your Deputy.
The role of Deputy provides reduced powers and an annual fee is payable. If an acceptable Deputy can’t be found, the local authority is appointed. They will then be given access to your financial affairs and can decide matters such as where you live and what care you receive.
Peace of mind
There are two types of LPA, one covering property and financial matters, the other dealing with health and welfare. You can choose to make one or both types. You will need to appoint one or more people to be your attorney; these can be your spouse, partner, relatives or friends, or a professional adviser such as your solicitor.
The LPA documents will then need to be registered with the Office of the Public Guardian. This can be done by you or by your solicitor.
1 Office for National Statistics, 2016