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Lasting Power of Attorney (LPA): A Wise Step Before It's Too Late
When we talk about preparing for the future, many people focus on writing a Will-and rightly so. But there’s another equally important, yet often overlooked, part of estate planning: the Lasting Power of Attorney (LPA).
An LPA is not about what happens after you pass away-it’s about protecting you while you are still alive, in case life takes an unexpected turn.
What Is a Lasting Power of Attorney (LPA)?
A Lasting Power of Attorney (LPA) is a legal document that allows you (the Donor) to appoint someone you trust (the Attorney) to make decisions on your behalf if you lose the capacity to do so yourself.
This could be due to illness, an accident, or a condition like dementia. And here’s the key-an LPA must be created and registered before capacity is lost. Once that happens, it’s too late to put it in place.
Setting up an LPA requires proper care, planning, and registration through the Office of the Public Guardian. Once done, it ensures your affairs can be managed smoothly without involving costly court processes or creating distress for your loved ones.
What Are the Chances I’ll Ever Need One?
This is a fair question.
With a Will, there’s no ambiguity-it will be needed one day. But with an LPA, many people might never use it at all. So why bother?
Because the harsh truth is: there’s absolutely no way of knowing who will need it and who won’t.
Loss of capacity isn’t always the result of old age. Illness, injury, or sudden medical events can affect people at any stage of life. And when it does, it’s too late to act.
Setting up an LPA is like buying insurance or installing a fire alarm-you hope it’s never needed, but if it is, you’ll be thankful it’s already in place.
“I’m Too Young to Need an LPA”
It’s a common objection-“I’m only in my 30s or 40s. Isn’t this something I should think about later in life?”
While it’s true that the likelihood of losing capacity increases with age, younger individuals are not immune to accidents, serious illnesses, or unexpected medical conditions. Life doesn’t always give us a warning.
Waiting until you’re older might mean missing the opportunity altogether. By the time capacity is lost, it’s already too late to set up an LPA.
The Moment I Knew an LPA Was Essential
In 2019, I was approached by a client in his early 40s who wanted to remortgage his home. His wife had unexpectedly lost capacity due to a sudden health issue, and they needed funds to adapt their home and lifestyle.
Despite the husband having sufficient income and a viable plan to raise funds, we couldn’t proceed. His wife hadn’t set up an LPA when she had capacity, and by the time help was needed, it was too late.
Within a few days of that conversation, my wife and I set up our own LPAs. I was 42, and she was 37. We didn’t feel “too young”-we felt prepared.
As an adviser, I only recommend what I believe in. That’s why my LPA was the first one I helped set up.
Two Types of LPA-and Why You Should Consider Both
There are two types of LPA, each covering a different aspect of your life:
1. Property & Financial Affairs LPA
This allows your chosen Attorney to:
Manage bank accounts and savings,
Pay bills and handle investments,
Collect pensions,
Buy or sell your property.
Importantly, this LPA can be used even while you still have mental capacity, with your permission, or if you lose capacity in the future.
As financial advisers, this is the LPA we are most keen on helping you establish, as it directly affects your ability (or your family’s ability) to access and manage financial assets in challenging times.
2. Health & Welfare LPA
This comes into effect only if you lose mental capacity. It allows your Attorney to make decisions about:
Medical treatment,
Where you live and your day-to-day care,
End-of-life decisions and personal welfare.
While at Nachu Finance our focus is on the financial side, it simply makes sense to set up both LPAs together. Doing so ensures your family can step in for all the important decisions if needed-not just financial ones.
“But LPAs Are Expensive…”
It’s true-setting up an LPA involves legal fees, careful documentation, and registration costs with the Office of the Public Guardian. And if you’re doing both the Property & Finance and Health & Welfare LPAs, these costs are effectively doubled.
But here’s what I tell my clients:
This is a one-time lifetime cost for a safeguard that may save you and your family from immense emotional and financial burden.
Without an LPA, loved ones might need to apply to the Court of Protection-a time-consuming and expensive legal process-to make even the most basic decisions on your behalf.
The hidden costs of not having an LPA can be much higher-delays, legal fees, frozen accounts, and prolonged uncertainty for your family.
For clients on a tight budget, some opt to begin with just the Property & Finance LPA and plan to revisit the Health & Welfare LPA later. That’s a reasonable start.
However, what’s non-negotiable is having LPAs in place for both partners in a couple. Whether you’re the breadwinner, homemaker, self-employed, or part-time worker—the risk of needing an LPA applies equally. There’s no way to know who might need it first.
Clearing Up Common Myths About LPAs
Even well-informed clients sometimes hold mistaken beliefs about LPAs. Here are three of the most common:
“My spouse can automatically act for me.”
In reality, your partner has no legal right to make decisions for you without an LPA, even for joint assets like a home or bank account.
“I don’t need one until I’m much older.”
Capacity can be lost at any age due to accidents or health issues. Waiting could mean missing the opportunity entirely.
“I can just do it quickly online later.”
LPAs are legal documents requiring careful thought, signatures, and registration. Doing it properly takes time and guidance.
“Nothing Will Happen to Me” – A Risky Assumption
Some people believe they’ll never need an LPA—“I’m healthy, I’ll be fine.” And we genuinely hope that’s true.
But here’s the reality: no one plans to lose capacity. It often happens unexpectedly—and there’s no way to guarantee it won’t happen to you.
The best kind of planning is done before a problem arises, not in the middle of one. Setting up an LPA is a simple, one-time step that puts the right safeguards in place. It’s not about expecting the worst—it’s about being realistic and responsible, while still hoping for the best.
After all, wouldn’t you rather be prepared and never need it than need it and not be prepared?
While the process of drafting and signing the LPAs can be completed fairly quickly, the total time involved depends on a few key steps:
In the first meeting, we get to know your situation, understand your preferences, help you identify the right Attorneys, and discuss costs. Once you’re happy to proceed, we prepare the documents for the next meeting and arrange signatures. Each LPA needs multiple signatures—from the Donor, and also from each appointed Attorney.
The real time delay comes in the registration process with the Office of the Public Guardian (OPG). Once we send the signed documents off, the first part is done. In our experience, it can take anywhere between 2 to 8 months for the OPG to register and return the LPAs.
We always recommend storing your LPAs in a safe and secure place. These are powerful legal documents and should be treated with care.
You don’t necessarily need to pay for professional storage. If you have access to a home safe or a locker facility, that may be sufficient. However, for clients who prefer additional peace of mind, we can arrange a secure document storage service for all your family legal documents at a reasonable annual cost.
Once your LPA is registered, it’s ready to be used when needed.
Attorneys can now access a more convenient online system provided by the Office of the Public Guardian (OPG). When the LPA is registered, the (OPG) provides an LPA reference number and access code. This allows Attorneys to share access digitally with organisations such as banks, utility companies, or HMRC.
Instead of posting or carrying physical documents, Attorneys can:
Go to the OPG’s online service.
Enter the LPA reference and access code.
Generate a secure online summary of the LPA.
Share a digital access link with organisations.
This makes it quicker and easier for Attorneys to prove they have authority, especially when dealing with multiple institutions.
Real Stories, Real Lessons
To bring this to life, here are a few examples of clients we’ve worked with —names have been changed to protect their privacy.
In 2019, Theo, a client in his early 40s, approached me to raise funds for adapting his home after his wife Maya suddenly lost capacity. Despite his financial eligibility, we were unable to proceed—she hadn’t created an LPA, and it was now too late.
Even though we had the tools and the lender, we couldn’t help him. A clear and painful example of why an LPA must be done in time.
Lesson: Even financially capable families can be paralysed by the absence of legal authority.
Nithya, a widowed mother whose main income came from her rental portfolio, worried about what might happen if she were to lose capacity.
She took the initiative to set up a Lasting Power of Attorney, naming her two children as Attorneys, with the stipulation that both must agree on joint decisions. This proactive step not only protected her business but gave her lasting peace of mind.
Lesson: Proactive planning empowers your loved ones without court interference.
In another instance, I met Daniel and Priya, a married couple who were considering setting up LPAs for each other. But through our discussions, it became clear that their relationship had tensions—including prior conversations about separation.
In that case, I did not recommend appointing each other as Attorneys. An LPA gives significant power, and trust and long-term stability are essential. Instead, we explored other trusted individuals to ensure the client’s interests were protected.
Lesson: Who you choose as your Attorney matters just as much as having the LPA itself.
Final Thoughts: Act While You Still Can
We don’t know what life has in store. But we do know this—the only time you can set up a Lasting Power of Attorney is before capacity is lost.
Once the window closes, the impact on your family’s finances, decisions, and peace of mind can be profound.
Setting up an LPA isn’t about pessimism—it’s about preparedness. It’s about ensuring that those you trust can step in smoothly when you need them most.
Let’s Take the Next Step
We can explain the process clearly in English, Tamil, or Gujarati—whichever you’re most comfortable with.
At Nachu Finance, we’ve helped several clients understand, set up, and register their LPAs with confidence. We approach this with the same care and clarity that we apply to mortgages and estate planning—because protecting your present and your future should never be left to chance.
We explain everything clearly. We help you choose the right Attorneys. We take care of the documentation and registration process. And we’re here if you ever need to revisit your LPA in future.
Don’t wait until it’s too late.
Book a free initial conversation to understand what’s right for your situation. Let’s take that one important step to protect your future—and your family’s peace of mind.
