If I had a pound for every time someone asked me, “Stephen, do I really need both types of Lasting Power of Attorney, or can I just get away with the one for the money?” I’d probably be retired on a beach in the Maldives by now.
But I’m not. I’m right here in East Sussex, helping people navigate the often-confusing world of estate planning. After over 25 years in this business, I’ve seen it all, the good, the bad, and the “oh-dear-god-how-do-we-fix-this” legal messes.
So, let’s tackle the big question head-on. Is the LPA property and finance “better” than the LPA health and welfare? Or is it the other way around?
The short answer? It’s a trick question. Asking which one is better is like asking which is better: your heart or your lungs? You can survive for a very short time without one, but eventually, you’re going to need the full set to keep the engine running.
The False Choice: Why “Picking One” is a Dangerous Game
I get why people ask. We’re all looking for ways to save a bit of cash or simplify our admin. But when it comes to a lasting power of attorney, trying to “budget” by only getting half the protection is a strategy I’d describe as… well, brave. And not the good kind of brave.
If you only have one, you leave a massive, gaping hole in your legal safety net. I’ve spent more than two decades watching families struggle because they thought they were covered, only to find out they had the keys to the bank account but no say in where Mum was living. Or they could choose the doctor, but couldn’t access the funds to pay for the private treatment.
Let’s break down what each one actually does, without the legal jargon that usually makes people’s eyes glaze over.
1. LPA Property and Financial Affairs: The “Money” One
This is the one people usually understand. It’s the “sensible” document. It gives your chosen attorneys the power to manage your financial life if you can’t (or simply don’t want to) do it yourself.
In my experience, this is the one people rush to get because they’re terrified of their bank accounts being frozen (which, by the way, happens much faster than you’d think).
What it covers:
- Paying the bills: From the council tax to the Netflix subscription.
- Managing bank accounts: Moving money around, checking balances, and making sure the pension is actually landing where it should.
- Selling property: If you need to downsize or move into care, your attorneys can handle the sale of your home.
- Dealing with the taxman: Because unfortunately, HMRC doesn’t stop caring about you just because you’ve lost capacity.
One unique feature of the financial LPA is that you can actually give your attorneys permission to use it while you still have mental capacity. This is incredibly handy if you’re physically frail, stuck in a hospital bed, or just find dealing with call centres more stressful than a trip to the dentist.
2. LPA Health and Welfare: The “Personal” One
Now, this is the one that often gets sidelined. People think, “Oh, my family will just decide what’s best.” I hate to be the bearer of bad news, but legally speaking, that’s a myth.
Without an LPA health and welfare, your “next of kin” has surprisingly little legal standing in a hospital or care home setting. If doctors disagree with your spouse or children about your care, guess who usually wins? Hint: it’s not the family.
What it covers:
- Your daily routine: What you eat, what you wear, and who you see.
- Where you live: Whether you stay in your home with a care package or move into a residential home.
- Medical care: Consenting to or refusing specific treatments or surgeries.
- Life-sustaining treatment: This is the big one. You can specifically give your attorneys the power to make the call on whether to keep you on life support or let you go naturally.
Unlike the financial version, this LPA only kicks in if you have lost the mental capacity to make the decision yourself. It’s your voice when you no longer have one.
The Risk of the “Half-Way House”
Let me paint a picture for you, a scenario I’ve seen play out more times than I’d like.
Imagine you’ve set up an LPA property and finance. You’re organised! You’ve got the money side sorted. But you skipped the health and welfare one because it felt a bit “morbid” or unnecessary.
Ten years down the line, you develop dementia. Your children can access your bank accounts to pay for a top-tier care home (thanks to the financial LPA). But wait, social services or the local authority disagree on which care home you should go to. Because you don’t have a health and welfare attorney, your children don’t have the final legal word. They can pay the bill, but they can’t choose the room.
Or worse, you’re in a hospital bed and there’s a disagreement about a specific medication or a “Do Not Resuscitate” (DNR) order. Your family is sidelined because they don’t have the legal “teeth” that a registered Health and Welfare LPA provides.
It’s a legal mess that no one wants to deal with during an already emotional time. If you’re curious about other traps, check out my thoughts on common LPA mistakes and how to avoid them.
The Expensive Nightmare: The Court of Protection
If you don’t have these documents in place and you lose capacity, your family is left with one option: the Court of Protection.
I’ll be blunt: I wouldn’t wish a Court of Protection application on my worst enemy. It is slow (think months, not weeks), it is incredibly invasive, and it is eye-wateringly expensive. You’re looking at thousands of pounds in fees, plus ongoing annual supervision costs.
In comparison, setting up both LPAs now is a bargain. It’s the difference between buying a fire extinguisher today or trying to build a fire engine while your house is already on fire.
If you want the full breakdown of why the Court is a bank-balance killer, have a read of this comparison of LPAs vs the Court of Protection.
Is it Better to Do It Yourself?
I’m wary of the “DIY” approach. Yes, you can download the forms yourself. But one tiny mistake: a signature in the wrong box, an out-of-order date: can lead to a rejection. And with the current backlog, you could be looking at a 10-week delay (or more) to get it fixed.
When people come to me, they’re paying for the 25 years of experience I’ve spent figuring out exactly how the Office of the Public Guardian (OPG) likes things done. I make sure your “safety net” doesn’t have any holes in it.
We’ve even got digital LPAs on the horizon, which might speed things up eventually, but for now, the system remains a bit of a legal minefield.
My Professional Opinion: Don’t Compromise
So, which is better for your future? Both. Always both.
A lasting power of attorney isn’t about giving up control; it’s about choosing who takes the wheel when you’re no longer able to drive. If you only give them the pedals (finance) but not the steering wheel (health), you’re still going to crash.
I’m a big believer in straight-talking. No one likes talking about a future where they can’t make their own decisions. It’s uncomfortable. But you know what’s more uncomfortable? Leaving your spouse or children in a legal limbo where they have to ask a judge for permission to look after you.
Ready to get your safety net sorted?
If you’re feeling a bit overwhelmed by the options, or if you just want to make sure you’ve got everything covered, let’s have a chat. I offer a free initial consultation to help you figure out what you actually need: no pressure, no jargon, just honest advice.
I’ve spent a quarter of a century helping people in England and Wales secure their futures. Whether you’re in East Sussex or much further afield, I can provide expert LPA support that fits around your life.
Give me a call on 01323 766766 or drop me a message. We’ll get it sorted, and you can get back to enjoying your life in 2026 without the “what ifs” hanging over your head.
What’s stopping you from ticking this off your to-do list today?
Is it the cost, the complexity, or just the thought of the paperwork? Whatever it is, I’ve probably heard it before, and I promise it’s not as daunting as you think once we get started. Let’s protect your future( properly.)