The advantage of having an LPA is that if an accident should happen and you were left in a position where you were unable to look after yourself financially or in terms of your medical care, you have the peace of mind of knowing that your wishes will be honoured and respected.
If you do not have an LPA in place and later become mentally incapacitated, your relatives or friends may face long delays and expense in applying to the Court of Protection in order to obtain legal authority to make decisions on your behalf regarding property and finances, and/or health and welfare. As the court application can take several months, no one will be able to access your funds or make decisions on your behalf, which could cause difficulties if you have a mortgage or other financial obligations, which cannot be met until the correct authorities are obtained.
It is much easier to already have things in place ‘just in case’ you were to find yourself in a position to need them.
