How less than 1% of UK adults are unaware they can secure their health and financial affairs with a lasting power of attorney¹

Ever thought about what might happen to your home and savings if you couldn't handle your money or take care of personal affairs? After working hard all your life, you certainly have the right to decide who has control over your affairs in case you lose the ability to make certain decisions.

You may think your partner or close family members can make decisions for you if you’re not able to, but this is not the case. If they had to pay your bills or make a choice about your care, they would need legal authority to do so.

A lasting power of attorney lets people you trust quickly and easily step in when you need it most. It not only gives you a voice, it protects your decisions.

How UK Adults Are Putting Their Health & Welfare And Property & Financial Affairs At Risk By Failing To Set Up A Power Of Attorney

A surprisingly high number of people, over 60% of potential Lasting Power of Attorney (LPA) customers, hold some common misconceptions about how these legal documents work². These misconceptions can cause confusion and delays when someone loses the ability to make decisions for themselves.

Having an LPA in place ensures that your wishes are respected and your loved ones don't face unnecessary stress at a difficult time. To avoid these and other issues, Compare Competitive LPA Quotes Now.

Here are two of the most widespread misconceptions³

Myth: The next of kin always gets the final say in decisions about someone's care and finances if they become incapacitated.

Fact: This is not true. While close family members may be consulted, they don't automatically have decision-making authority. That power lies with whoever is named as the attorney in a properly established LPA.

Myth: If a couple shares a joint bank account and owns their home jointly, one partner can automatically make decisions for the other if they lose capacity.

Fact: Joint ownership doesn't grant automatic decision-making power in matters of health and welfare. An LPA is still needed to designate someone to make these crucial choices.

What Are Your Options?

Planning for your future can feel overwhelming, but securing a Lasting Power of Attorney (LPA) doesn't have to be, we have listed the 3 most common routes to obtaining a Lasting Power of Attorney.

Deciding your Lasting Power of Attorney route depends on your priorities. Estate planning companies offer efficient, budget-friendly guidance, solicitors provide personalised legal coverage and peace of mind, while DIY grants control but demands research and legal diligence.

Remember UK LPA Compare can connect you with estate planning companies to provide you competitive quotes.

Is an LPA all I need?

Unfortunately, you must also plan for how you want your estate handled after your death. Dying without a Will (or Living Trust) means the laws runs it’s course, often against your or your family’s wishes. Thankfully, an LPA provider can also provide you a Will or Living Trust.

What Do I need To Know About Wills and Living Trusts?

A Will or Living Trust protects your assets and dictates what will happen to them after your death, according to your wishes. They are vital if you are married or own property, as letting the law run it’s course can be highly detrimental to your family or loved ones. Additionally, a Will needs to be reviewed every 3-4 years.

A Living Trust can be used where you have a more complex estate and need a more thorough plan. Additionally, they can by-pass court or Legal Time and the costs they incur after you pass away. This will usually make the exchange of assets quicker and cheaper for your family.

Finally, you must choose an executor for your Will or Living Trust. This can involve discussing details with solicitors, organising probate and other legal or tax affairs. You can make your Will or LPA provider your executor instead, which will save your family the stress of handling these affairs themselves.

Remember UK LPA Compare can connect you with estate planning companies to provide you competitive quotes.

Here Is How To Do It: