Why do I need a Lasting power of attorney for property and financial affairs (England and Wales)?

The reasons that you might need a LPA for Property and financial affairs, and what your appointed attorneys would be able to do

A 'Lasting power of attorney for property and financial affairs' is a legal document in which you authorise someone to permanently look after your financial matters should you become either physically and/or mentally unable to do so yourself.

The person or people you appoint to manage your financial affairs are known as your 'attorneys' and you are referred to as the 'donor'.

Start your Power of attorney now

The 'Lasting power of attorney for property and financial affairs' will enable your attorneys to manage your property and financial affairs for you, including:

  • Open, close or operate bank accounts
  • Claim and receive pensions, benefits, allowances and rebates
  • Make all tax returns and adjusting and settling any claim for tax
  • Pay your household bills
  • Sell your property
  • Pay for private medical care and residential care costs

If you don't have a 'Lasting power of attorney for property and financial affairs' in place when you lose your mental capacity to deal with these matters yourself, your bank and other accounts may be frozen until a 'deputy' is appointed by the Court of Protection. A deputy will have the legal authority to deal with these matters on your behalf. However, it may take time for a deputy to be appointed, causing your financial affairs, such as the paying of bills to become neglected.

The information on this page applies to England and Wales only.

Copyright © 2024 Epoq Group Ltd. All trademarks acknowledged, all rights reserved

This website is operated by Epoq Legal Ltd, registered in England and Wales, company number 3707955, whose registered office is at 2 Imperial Place, Maxwell Road, Borehamwood, Hertfordshire, WD6 1JN. Epoq Legal Ltd is authorised and regulated by the Solicitors Regulation Authority (SRA number 645296).

Our use of cookies

We use necessary cookies to make our site work. We would also like to set some optional cookies. We won't set these optional cookies unless you enable them. Please choose whether this site may use optional cookies by selecting 'On' or 'Off' for each category below. Using this tool will set a cookie on your device to remember your preferences.

For more detailed information about the cookies we use, see our Cookie notice.

Necessary cookies

Necessary cookies enable core functionality such as security, network management, and accessibility. You may disable these by changing your browser settings, but this may affect how the website functions.

Functionality cookies

We'd like to set cookies to provide you with a better customer experience. For more information on these cookies, please see our cookie notice.