A Lasting Power of Attorney (or LPA) lets your loved ones manage your affairs if you can’t do it yourself. Your LPAs can cover your finances, health and welfare or both. You can simply create an LPA if you want to, but we recommend writing a letter of wishes too. Read on to find out why and what you might want to include.
Why do you need a letter of wishes with your LPA?
Your LPA includes basic information, but there’s limited space to give your attorneys important details, so it’s always helpful to provide them with additional information they might need when carrying out their duties. The letter of wishes is the ideal place to put it. It isn’t legally binding but can include more detail about your preferences, so your attorneys can make decisions for you, knowing that it’s what you would have chosen for yourself.
Information about your finances and investments
We encourage people to include contact details for professional advisers such as accountants and financial or tax advisers. You can include anything you want the attorneys to know about how you want your finances managed. For example, ethical investment might be important to you, or you might prefer safe investments like premium bonds.
If you’ve been using your ISA allowance, you can request it continue. However, your attorneys might need the Court’s permission to start if you haven’t used it.
Gifts and donations
If you regularly give gifts to certain people, you can ask your attorneys to continue. Your letter of wishes can talk about the type and value of gifts you give and whether they’re sent on birthdays and Christmas or at bar mitzvahs or graduations. Do you choose a gift or ask the recipient or their parents what they need?
You can also ask your attorneys to make donations to charity, although if you want to continue regular formal donations, we recommend putting that in the main LPA document.
Your health and quality of life
Information about your preferences can be important to your attorneys if you’re moving to a care home or employing carers. You can include your daily activities and interests, whether reading, listening to music or the radio, or watching TV. You can provide details about what you like and how you access it, your favourite programmes and radio stations.
For most people getting outside is important. Your letter of wishes can discuss the kind of social activities you like and personal care information, such as how often you get your hair cut or have your nails done.
Food and drink
If you have allergies to food or medication, we’ll generally try to include details in the main power of attorney, but your letter of wishes can talk about your other likes and dislikes, your favourite meals or foods you don’t like. You’d be amazed at how often offal comes up in that conversation. You might be vegetarian or prefer to avoid certain foods.
End-of-life care
Maintaining their quality of life is the most important thing for most people. There might be circumstances where you don’t want your life prolonged if it will cause you more stress and pain than just managing your condition. You can say you don’t want medical treatment if you develop a particular illness. These can be tricky to think about, but it helps your attorneys make the right decisions.
Do you need to create an LPA and Letter of Wishes? We can help. Get in touch using the form below or call us on 0116 380 0752.