Introduction
At Transform FP, we help individuals and families make confident, well-informed decisions about their finances — especially when it comes to planning for life’s unexpected turns. As independent Financial Planners, we regularly advise on the practicalities and emotional considerations of appointing a Lasting Power of Attorney. In this article, Angus Kirk explores four essential conversations you should have before naming someone to act on your behalf.
What is a Lasting Power of Attorney?
Planning for the unexpected is never easy. But appointing a Lasting Power of Attorney (LPA) is one of the most empowering and protective decisions you can make for your future.
An LPA is a legal document that allows someone you trust to make decisions on your behalf if you become unable to do so — whether due to illness, an accident, or loss of mental capacity. Without one in place, even close family members could face lengthy and expensive court applications to manage your affairs.
And yet, many people name an LPA without ever having a proper conversation with them. That’s a missed opportunity. A thoughtful, open discussion doesn’t just make the process more collaborative — it helps ensure your wishes are honoured and understood.
1. Talk Honestly About the Responsibility Involved
Becoming a Power of Attorney is not an honorary title — it comes with significant responsibility. Whether you’re asking a partner, adult child, or trusted friend, it’s crucial they understand what the role entails. If they’re appointed under a Health & Welfare LPA, they may have to make decisions about medical care, housing, or end-of-life treatment. If it’s a Property & Financial Affairs LPA, they may need to manage your bank accounts, investments, bills, or even decide to sell your home.
This role often comes at emotionally charged times, and being an LPA can be both complex and demanding. That’s why it’s so important to ensure the person you’re appointing feels prepared and willing to take it on — and that they understand their legal obligation to act in your best interests at all times.
2. Share Your Wishes About Health, Care, and Quality of Life
Health & Welfare LPAs make personal decisions that can shape your quality of life — where you live, what care you receive, and how medical treatment should proceed in critical situations.
While you can never predict exactly what the future will hold, setting out your views now can be a powerful gift to your loved ones. It removes guesswork and emotional burden at difficult times. Consider discussing:
- Whether you’d prefer to be cared for at home or in a residential setting
- Your thoughts on life-sustaining treatments and palliative care
- Specific beliefs or values that should inform care decisions
- How much autonomy you’d like to retain if your capacity is diminished
These are personal, sometimes difficult topics. But by making your views clear, you allow your LPA to act with greater clarity and confidence, should the time come.
“An LPA isn’t just about paperwork — it’s about values, trust and legacy. Having the right conversation early can shape how you’re cared for later.”
— Angus Kirk
3. Explain How You’d Like Your Finances to Be Managed
If you appoint someone to act under a Property & Financial Affairs LPA, they may need to:
- Access your bank accounts to pay regular bills
- Manage investments or pension income
- Claim benefits or entitlements on your behalf
- Pay for care or lifestyle costs
- Handle the sale of your home, if required
You may also wish to share your estate plan or financial priorities. For instance, if you regularly gift to children, donate to charity, or are planning to reduce your estate for Inheritance Tax (IHT) purposes, your LPA should understand how you’d like that managed.
This is especially important if you work with a financial planner. You may want to express your wish for your LPA to consult with your adviser before making large transactions or altering your financial arrangements.
Remember, your LPA can only act within the scope of what’s allowed — and the more context they have, the better their decisions are likely to be.
4. Outline Any Specific Instructions or Preferences
While an LPA is legally bound to act in your best interests, that doesn’t always mean their decisions will perfectly match your personal preferences — unless you’ve made those known. That’s where advance instructions or preferences can help. These can be informal (discussed verbally), or formalised within the LPA document itself. Examples include:
- Requiring your LPA to seek financial advice before investing over a certain amount
- Specifying that gifts to family members should continue as long as they remain affordable
- Stating that you prefer NHS care over private treatment (or vice versa)
- Making your views clear on religious or cultural considerations
You can also appoint multiple attorneys — either to act jointly (where all must agree) or jointly and severally (where they can act independently). This arrangement can provide balance, but you’ll want to ensure all attorneys are aligned and capable of working together constructively.
How to Register a Lasting Power of Attorney
If you’re ready to proceed, LPA forms can be completed online or by post via the gov.uk website. You’ll need to:
- Choose your attorney(s)
- Fill in the appropriate forms (Health & Welfare, Property & Financial)
- Sign the document in the presence of a witness
- Include a “certificate provider” — a person who confirms that you understand the document and are acting voluntarily
- Register the LPA with the Office of the Public Guardian (a £82 fee applies for each LPA, though fee reductions may apply)
You can complete the forms yourself, but legal advice can help ensure they reflect your intentions clearly and avoid common errors.
Let’s Discuss How We Can Support Your Attorneys Too
Naming an LPA is more than an administrative task — it’s an act of trust and foresight. We often work closely with attorneys, helping them manage complex financial matters or make difficult decisions with clarity and confidence. Whether you’re thinking about naming an LPA or are already supporting a loved one in that role, we can help.
Contact us to find out more about how our financial planners can support both you and your attorney throughout life’s unexpected turns.
Important disclaimer: This article is for general information only and does not constitute financial advice. The information is aimed at retail clients only. The value of your investment can go down as well as up and you may not get back the full amount you invested. Past performance is not a reliable indicator of future performance. The Financial Conduct Authority does not regulate estate planning, tax planning, or will writing. We recommend that you speak to a qualified financial planner for advice tailored to your individual circumstances and goals.
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