It is a commonly held misconception that young, healthy adults do not need a Lasting Power of Attorney, or LPA, because they have full mental capacity, have written a will, trust in their family to support them if needed and manage their finances jointly with their spouse.
Challenging This Misconception
The law is very clear that a will only comes into effect after someone dies. It does not assign powers of responsibility to a third person before this point, so if someone suffers a brain injury or develops a degenerative condition such as dementia which affects their mental capacity but remains alive, the executors of the will are unable to manage their affairs for them.
The law also prevents third parties from taking over an individual’s finances or making medical decisions on their behalf unless they are a nominated LPA attorney for that person or have successfully been appointed a deputy to them. This means that joint accounts can be frozen, jointly owned property cannot be sold and healthcare decisions cannot be made.
How to Get an LPA
Obtaining an LPA online is a simple process that delivers immediate peace of mind. Companies such as https://powerofattorneyonline.co.uk/ specialise in helping individuals to implement a plan that will allow their loved ones to lawfully manage their affairs should they at a later point become mentally incapacitated.
The best time to get an LPA is now, while you are of sound mind, fit and healthy, as once your mental capacity deteriorates, you become unable to apply for an LPA.
