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Planning for the future involves making important legal decisions, especially when it comes to managing the affairs of ageing parents. A key tool in this process is the Lasting Power of Attorney (LPA), a legal document that allows you to appoint someone you trust to handle financial and health matters if you lose mental capacity.
An LPA covers two critical areas: Property and Financial affairs, which lets your attorney manage bank accounts, savings, pensions, benefits, and property transactions; and Health and Welfare decisions, covering personal care and medical treatment when you can no longer make these choices yourself. Establishing an LPA offers peace of mind, ensuring your wishes are followed, and your loved ones can act on your behalf smoothly when needed.
But what if your mum loses mental capacity and you do not have an LPA in place? Unfortunately, without an LPA, you face significant challenges in managing her affairs, especially her finances. Contrary to popular belief, being her spouse or next of kin does not grant you automatic legal authority to access or control her bank accounts. Banks generally freeze accounts if the customer loses capacity, even joint accounts, to protect against misuse.
This means you cannot simply manage mum's bills, benefits, or property transactions without the proper legal authority. To gain control, the family must apply to the Court of Protection for deputyship, a complex, costly, and time-consuming legal process that can take months and cost thousands of pounds. During this period, vital financial decisions may be put on hold, potentially impacting your mum’s access to funds and care.
The same applies to decisions about mum’s health and welfare. Without a Health and Welfare LPA, medical professionals are not legally required to follow family wishes regarding care or treatment. This can create distressing situations where mum’s preferences or values may not be honoured because no appointed attorney has the authority to advocate for her.
In summary, without an LPA:
- You cannot legally access or manage your mum’s bank accounts and savings.
- You cannot make decisions about pensions, benefits, or investments.
- Property transactions, including buying or selling, require court approval.
- You lack authority to make personal care or medical decisions for your mum.
- Families often must navigate the Court of Protection for deputyship, with its delays and costs.
Understanding the importance of setting up an LPA early is crucial. It must be established while your mum still has mental capacity, as it cannot be created afterward. An LPA gives your mum the power to choose the attorney, whether a family member, close friend, or professional solicitor, who will act in her best interests, preserving her dignity and easing pressure on the family.
At Talbots Law and Lyons Bowe, we specialise in guiding families through this complex journey. Our experienced solicitors provide compassionate assistance in drafting LPAs, ensuring your loved one’s wishes are clearly documented and legally binding. Whether you’re considering an LPA for the first time or need advice on managing a loved one’s estate, our teams support you with clarity and care every step of the way.
Taking these proactive legal steps today helps secure a smoother future, protecting your mum’s financial wellbeing and personal care according to her wishes.
Disclaimer
This article is provided for general information only and does not constitute legal or financial advice. While we aim to keep our content accurate and up to date, laws, regulations and individual circumstances can change.
If you are considering setting up a Lasting Power of Attorney or have questions about your specific situation, you should seek advice from a qualified solicitor or other regulated legal professional before making any decisions.
