Posted: Monday, 10 November 2025 @ 11:28
When people think about estate planning, they often focus on a single piece of the puzzle: what happens after they're gone. But a complete and secure financial future is like a finished jigsaw—every piece must be present and interlock perfectly. While Wills and Inheritance Tax (IHT) planning are crucial central pieces, many people are missing a vital segment: the Lasting Power of Attorney (LPA). Without it, the picture remains incomplete, leaving your wishes and your loved ones vulnerable.
The Estate Planning Puzzle: Your Complete Picture
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Your Will
The foundation piece that distributes your assets after you're gone.
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Inheritance Tax Planning
The strategic piece that protects your wealth for future generations.
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Trusts
The protective piece that manages how and when assets are distributed.
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Lasting Power of Attorney
The essential piece that protects you during your lifetime
The LPA Piece: What Is It?
Think of a Lasting Power of Attorney (LPA) as the piece that protects you for the part of the puzzle that deals with your lifetime. It's a legal document that allows you (the 'donor') to appoint trusted people (your 'attorneys') to make decisions on your behalf if you can no longer do so yourself.
Property and Financial Affairs LPA
The piece that fits with your assets, allowing your attorneys to manage bank accounts, pay bills, and sell property.
Health and Welfare LPA
The piece that connects to your personal wellbeing, granting authority for decisions about your medical care and daily routine.
How the Pieces Fit Together
Connecting the LPA to Your IHT Plan
Your Inheritance Tax strategy often involves ongoing financial actions. If you lose mental capacity, this piece can fall away. A Property and Financial Affairs LPA acts as the connector that holds everything in place, allowing your attorneys to continue implementing your financial strategy.
Locking the LPA into Your Trusts
As a trustee, you're a key piece of the trust framework. If you lose capacity, that piece is missing. A well-drafted LPA can be shaped to fit this exact gap, granting power to appoint new trustees and ensuring smooth administration.
The Gap in Your Puzzle: Life Without an LPA
Without an LPA, your family faces a difficult Court of Protection application:
- More expensive than putting the correct piece in place
- Much slower - leaving affairs in limbo
- Less control - the court decides, not you
Choosing the Right Pieces: Your Attorneys
Trust and Integrity: The piece must be reliable and strong
Financial Competence: The piece needs the right shape for financial decisions
Personal Values: The piece must match your colours and patterns for health decisions
Your Complete Picture Awaits
A comprehensive estate plan is a finished jigsaw puzzle. Your Will, Trusts, and IHT plan form the central image, but the LPA is the essential piece that locks them all together.
Complete your puzzle today and achieve true peace of mind.
Disclaimer: This article is for general information purposes and does not constitute legal or financial advice. We recommend seeking professional advice from a qualified practitioner, such as a member of The Institute of Professional Willwriters, for your specific circumstances.