The price your family could pay if you don’t have a Lasting Power of Attorney

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It’s easy to think that you don’t need a backup plan.

Until you do.

Worst-case scenarios can be uncomfortable to think about. But leaving your wealth and healthcare decisions to chance might prove difficult for your loved ones if an illness or injury came out of the blue.

Setting up Lasting Powers of Attorney (LPAs) can give you peace of mind. With these documents in place, you will know that whatever happens, someone you trust can take control of your wellbeing and financial decisions.

Continue reading to learn more about the value of LPAs, as well as three physical and emotional costs that your family might have to pay without one.

A Lasting Power of Attorney allows you to nominate a trusted person (or people) to safeguard your money and wellbeing

An LPA is a legal document which grants a nominated person or people control over your personal and financial affairs should you be unable to make decisions for yourself – in other words, if you lose mental capacity.

The people you nominate are called “attorneys”.

For example, if you experienced a stroke and were deemed to have lost mental capacity by your doctor, your attorneys could step in at this stage.

There are two types of LPAs:

• Health and welfare – Covering medical care, treatment and daily routine.

• Property and financial affairs – Granting authority over your bank accounts, investments and properties. While a health and welfare LPA only comes into force if you lose mental capacity, you can ask your attorney(s) for help managing your money at any time.

You can nominate one or more attorneys for an individual LPA and stipulate whether they should make decisions together or separately.

Your attorney(s) will be able to act in your best interests when making decisions about your healthcare – such as whether you should be cared for at home or in a facility – as well as ensure that your finances are managed thoughtfully.

Think carefully about who you nominate. Your attorney or attorneys should be someone you trust to make decisions that align with your own values, even when those decisions are very difficult.

It's also important to note that an LPA is not a “set and forget” document. Circumstances can change over time – relationships evolve, and your financial situation could become more complex. Therefore, it can be beneficial to regularly review your attorney choices to make sure that the right person or people are in place.

Ultimately, an LPA adds an extra layer of protection and stability to your current and long-term financial objectives. They can also provide the same protection for your loved ones, especially if they rely on your finances.

Without one, it could be your family who ends up paying.

3 unexpected costs your family might face if you don’t have a Lasting Power of Attorney

Court of Protection fees (and other associated costs)

Nobody has the automatic legal right to take control of your finances or healthcare choices in your stead.

If you lose mental capacity without an LPA in place, the only way your loved ones – even your spouse or civil partner – can gain legal authority to make decisions for you is by applying to become your deputy through the Court of Protection.

Deputies have nearly identical rights to those of an attorney. They can manage your money and make decisions about your care.

However, not only is the application process exceptionally lengthy, usually taking between six and 12 months to complete, but it can also become costly.

The application alone is £421 (as of February 2026), and your family might also need to pay for:

• Additional hearings
• Medical assessments
• Annual supervision
• Legal fees
• Security bonds

These charges could mount up while simultaneously leaving your finances in a state of uncertainty for an extended period. And, without access to your accounts, it would be those applying for deputyship who would need to foot the bill.

Plus, you will have no say in who becomes your deputy, and responsibility over key decisions might pass to someone you wouldn’t have chosen yourself.

Your family may have to cover costs on your behalf

Your bank may freeze your assets once it is made aware of your loss of mental capacity, usually after being notified by a third party.

This could include your bank accounts (individual and joint), building society funds and your investment portfolio.

Financial institutions do this to protect your wealth from fraud. However, it can also mean that bills, care fees, mortgage payments and tax liabilities end up being covered by those looking after you until a deputyship is granted.

Emotional toll

If you lose mental capacity, be it from accident or illness, it will take a significant emotional toll on your loved ones.

And without an LPA, this could increase the stress your family experiences as they deal with the financial implications of your incapacitation on top of the emotional strain.

Rather than going through months of deputyship processes or potentially building up their own debt by paying off your bills, an LPA gives your attorney(s) access to your bank accounts, so your everyday and healthcare costs can be paid out of your own pocket rather than theirs.

Get in touch

LPAs are a vital legal and financial safety net for your present and future financial planning.

Our award-winning team can work alongside your chosen attorneys and, if you need it, help you access trusted legal advice when setting up your LPAs.

Email us at hale@kelland.co.uk or call 0161 929 8838 today.