In 2025, the seminal film One Flew Over the Cuckoo’s Nest celebrates its 50th anniversary.
The Oscar-winning classic, which stars Jack Nicholson, tells the story of a man who feigns insanity to escape prison, only to find he is caught in the dehumanising world of mental institutions.
Perhaps two of the main themes of the fantastic, yet sometimes dark, film are loss of control and vulnerability, two issues that remain as relevant today as they were half a century ago.
These are never easy topics to confront – whether on screen or in your own life.
Yet, One Flew Over the Cuckoo’s Nest serves as a stark reminder of why protecting your future self is so vital.
One of the ways you can do so is with a Lasting Power of Attorney (LPA).
Simply put, an LPA is a legal document that allows you to appoint someone trustworthy (your “attorney”) to make decisions on your behalf if you can no longer do so or, in the case of financial matters, no longer wish to.
Despite the importance of these documents, the Office of the Public Guardian reports that while around 40% of UK adults have written a will, fewer than 1% have registered an LPA.
This could leave many in the UK vulnerable to losing control over their affairs should they lose mental capacity.
Continue reading to discover exactly what an LPA is and how putting one in place could protect you in future from the unexpected.
A Lasting Power of Attorney allows you to nominate a trusted person to manage your affairs
While the film presents a dramatic portrayal of mental health care, it also highlights certain aspects of the everyday realities of losing capacity.
It’s easy to assume this will never happen to you, but the NHS reports that more than 944,000 people in the UK are currently living with dementia. Roughly 1 in 11 people over the age of 65 are affected.
Worryingly, this figure is expected to surpass 1 million by 2030.
While it is a common misconception that your next of kin would automatically be able to make decisions for you, this isn’t necessarily the case. Even your spouse or civil partner may struggle to manage your affairs if you haven’t registered an LPA.
There are two main types of LPA in England and Wales:
- Health and welfare – This gives your attorney the power to make decisions regarding your daily routine, medical care, whether you move into a care home, and any life-sustaining treatments you may need.
- Property and financial affairs – This allows your attorney to make decisions about managing your bank and building society accounts, paying bills, collecting benefits such as your pension, or even selling your home.
It’s important to note that you will need full mental capacity to put an LPA in place. However, once it’s registered, it can take effect when needed and be either temporary or permanent.
With your permission, your property and financial affairs LPA also comes into place immediately, while a health and welfare agreement only does so if you lose capacity. Moreover, you would need to register both kinds of LPA to have all elements covered.
5 practical benefits of having a Lasting Power of Attorney in place
1. It puts you in control
The main benefit of an LPA is that you can nominate a trusted person (or people) to make decisions on your behalf. Without one, the courts may have to appoint someone to act on your behalf, and this may not be the person you would have chosen yourself.
You can also control the sorts of decisions your attorney(s) can make, and you can appoint as many attorneys as you like. For instance, you may choose a trusted colleague to make important decisions about the running of your business, and a family member to oversee your personal finances.
Since you can tailor your LPA to your personal needs, this can give you a sense of control over how your affairs will be managed should you lose capacity.
2. It can cover any eventuality
Your LPA could support you through temporary situations, such as short-term hospitalisation after an accident, as well as for more long-term conditions, such as in the event of a dementia diagnosis.
Remember that a health and welfare LPA comes into effect as soon as you cannot make decisions for yourself regarding your wellbeing. Meanwhile, a property and financial affairs LPA can come into effect whenever you choose.
These options mean that you can cover all of your bases and prepare for any future eventuality.
3. Decisions regarding your financial affairs or physical wellbeing can be made quickly
If you become mentally or physically incapacitated and you don’t have an LPA in place, your loved ones may need to apply to the Court of Protection to appoint a “deputy” to manage your affairs.
This can be time-consuming – sometimes as long as six months – and could leave your family members facing financial hardship while the Court of Protection processes the application.
Instead, if you’ve nominated an attorney, they can deal with your affairs immediately.
4. It can protect you at any stage of your life
It’s easy to think that you’d only need an LPA in the later stages of your life as your health declines, especially since the document is often associated with supporting people with dementia. However, this isn’t necessarily the case, as the unexpected can strike at any time.
Even a short-term illness or period in hospital could leave you unable to manage your affairs. This could be especially damaging if you have a young family relying on you.
Additionally, as you must have the capacity to make an LPA, it’s essential to do it sooner rather than later, as you never know what might be just around the corner.
Thankfully, by having an LPA in place, your affairs will be dealt with no matter what stage of life you’re at.
5. It can give you much-needed peace of mind
Above all, having an LPA in place can give you the peace of mind that your financial and physical wellbeing will be looked after if you can no longer do this yourself.
Moreover, your LPA will remain in place for your lifetime (or until you stipulate otherwise) and because you will have chosen an attorney (or attorneys) that you trust.
This means that you don’t have to worry about your loved ones struggling if you can’t make decisions for yourself.
Get in touch
Unlike Nurse Ratched, you can rest assured that we will have your best interests at heart when we help you manage your wealth.
If you’d like to find out more about the support we offer, please email us at info@investmentsense.co.uk or call 0115 933 8433.
Please note
This article is for general information only and does not constitute advice. The information is aimed at retail clients only.
All information is correct at the time of writing and is subject to change in the future.
The Financial Conduct Authority does not regulate estate planning, Lasting Powers of Attorney, or will writing.
