Author: Chris Watts, Will Writer – Fern Wills & LPAs
Last verified: 25 August 2025 (England & Wales)
A Property & Financial Affairs Lasting Power of Attorney (P&F LPA) allows someone you trust to manage your money, property and financial decisions. Unlike the Health & Welfare LPA, this type can be used while you still have mental capacity (if you allow it), as well as if you later lose capacity.
It’s the legal safeguard that ensures your bills get paid, your property is managed, and your finances stay secure if you’re unable to handle them yourself.
You should think about setting up a Property & Financial Affairs LPA if you:
What your attorney can do:
When it can be used:
Choosing attorneys:
Other key points:
We recently helped Mr Davis, who was worried about managing his property portfolio as he got older. By setting up a Property & Financial Affairs LPA, he gave his two adult children authority to handle bills and manage rental income. When he later had a spell in hospital, his attorneys were able to step in immediately—avoiding missed mortgage payments and ensuring tenants’ needs were met.
When does a Property & Financial Affairs LPA take effect?
It can be used as soon as it is registered if you give permission; otherwise, it can only be used once you lose mental capacity.
Can my attorney sell my home?
Yes, if your LPA authorises this and it’s in your best interests. If the property is jointly owned, both signatures may be required.
What happens if I don’t have one?
Your loved ones may have to apply to the Court of Protection, which is costly and time-consuming.
Can I have more than one attorney?
Yes – you can appoint more than one and decide whether they must act jointly or can act independently.
What checks are there to protect me?
Your attorney must follow the Mental Capacity Act 2005 and is supervised by the Office of the Public Guardian. They can be investigated if concerns arise.
Sources & further reading:
A Property & Financial Affairs LPA is one of the most practical ways to protect your finances. Without it, even close family may be powerless to help when it matters most.
📞 Contact Fern Wills & LPAs today to discuss setting up both types of LPA—so your financial and personal wellbeing are protected, whatever the future brings.