Why Lasting Powers of Attorney Might Be More Important Than Your Will

12 July 2025 | Wills, Trust & Probate | Author: Jayne Parsons

Jayne Parsons is the Head of the Wills and Probate department, which falls under the umbrella of Private Client services. With experience in the legal profession dating back to 1982, Jane has built a career from junior secretary to department head, gaining a deep understanding of the importance of forward planning when it comes to personal and estate matters.

The department specialises in the preparation of Wills, Lasting Powers of Attorney (LPAs), Court of Protection applications, and estate administration - both in cases where a Will exists and where an individual has died intestate.

The Crucial Role of Lasting Powers of Attorney

While most people understand the importance of having a Will, fewer appreciate the significance of having an LPA in place. In many cases, an LPA is even more vital than a Will. Whereas a Will protects loved ones after death, an LPA protects the individual during their lifetime - particularly if they become unable to make decisions due to illness or injury.

Without an LPA, loved ones would need to apply to the Court of Protection for authority to act - an often lengthy and expensive process. With an LPA already in place, a trusted person can immediately step in to manage financial matters or make healthcare decisions, as specified.

Separate LPAs for Business Owners

For those who run their own businesses, it is advisable to consider having two LPAs: one for personal matters and another for business affairs. The need for separate LPAs will depend on the structure of the business and any existing agreements, such as partnership terms or articles of association. This is an area that requires careful consideration and tailored advice.

A Common Scenario

Consider this scenario: an individual suffers a serious accident and is hospitalised. They are the only person with access to the bank account from which the mortgage is manually paid. Without an LPA, mortgage payments may fall into arrears. With an LPA in place, an appointed attorney could manage the account and ensure financial obligations continue to be met without disruption.

Why Everyone Should Have a Will

While LPAs safeguard individuals during their lifetime, Wills ensure that their estate is handled in accordance with their wishes after death. A Will allows the appointment of trusted executors who will handle the legal aspects of estate administration - paying debts, managing assets, and distributing inheritance to chosen beneficiaries.

The process of creating a Will typically begins with completing a brief questionnaire outlining assets, liabilities, and intended beneficiaries. A legal professional then discusses the individual's wishes, prepares a draft Will, and arranges a formal signing once the client is satisfied.

Every adult with property or financial assets should have a Will. Dying without one means the estate will be managed under the rules of intestacy, which may not reflect the individual's preferences.

Next Steps

Whether you are thinking about making a Will or setting up a Lasting Power of Attorney, our experienced legal team is here to guide you through every step of the process.

Contact us today to book an appointment and get tailored advice based on your unique circumstances.

Planning ahead is not just wise - it is essential. Protect yourself, your loved ones, and your future with the right legal documents in place.