A Lasting Power of Attorney, also known as an LPA, is an important document which allows anyone to nominate a trusted representative to take care of their affairs in the event that, in the future, they lose capacity and are no longer able to make decisions.

Setting up an LPA is a sensible decision and is easily done. You can either visit a solicitor’s office in person or organise LPA’s online through Power of Attorney Online or a similar specialist.

Organising an LPA online or in person may relate to either finance and property or health and welfare, and both need to be drawn up while the person in question is still of sound mind. Anyone can be nominated, but typically, people choose a trusted family member, spouse, or friend.

There are some common misconceptions surrounding LPAs, so let’s have a look at these and set the record straight.

1. You can just organise an LPA when you need it

The key point about an LPA is that you appoint someone while you still have the capacity to do so. This means fully understanding the implications of an LPA, choosing a trustworthy person, and being able to physically sign the document.

If it is deemed that a person has already lost capacity, for example, due to advanced Alzheimer’s, then it is unfortunately too late to sign the document.

2. LPAs cannot be changed once signed

We understand that signing an LPA can feel daunting. It’s another common misconception that LPAs are set in stone for life, but, according to the Office of the Public Guardian, it is possible to cancel an LPA.

3. There’s no real need for an LPA

Many people incorrectly assume that if a person loses capacity, whether temporarily or permanently, their spouse will simply be able to step in and handle all their finances, regardless of whether an LPA is in place. Unfortunately, this is often not the case, which is why an LPA can be essential.