As a solicitor by profession and an avid horse rider in my free time, I understand both the importance of Lasting Powers of Attorney (LPAs) and the lack of awareness surrounding these crucial legal documents.

• What are Lasting Powers of Attorney?
• Why Are Lasting Powers of Attorney So Important?
• Recommended Action
• Common Myths About Lasting Powers of Attorney
• Conclusion

What are Lasting Powers of Attorney?

Lasting Powers of Attorney (LPAs) are legal documents that allow an individual to appoint people, known as attorneys, to act on their behalf if they become unable to do so themselves. There are two types of LPA: Property and Financial Affairs and Health and Welfare. An individual can choose to create one or both documents.

While the Health and Welfare LPA would only be used if the individual loses capacity to make decisions, the Property and Financial Affairs LPA is more flexible. This LPA can be used immediately if the individual chooses, which is helpful if a physical impairment prevents or restricts their ability to manage their property and finances.

Why Are Lasting Powers of Attorney So Important?

Equestrian sports carry a higher-than-average risk of injury. Handling and riding a large, powerful, and unpredictable animal increases the likelihood of accidents, making it more dangerous than many other sports. Most equestrians, myself included, have experienced injuries, whether minor or severe, and we all know someone who has suffered a serious injury.

Despite these risks, many riders continue with the day-to-day responsibilities of owning and riding horses without fully considering the potential dangers. While we all strive to avoid accidents, it’s essential to recognise that the possibility is ever-present.

So, what happens if an accident occurs? Without an LPA in place, no one would be legally able to manage your financial affairs. This includes tasks such as managing bank accounts, paying bills, doing your weekly shop, or covering expenses like livery and utility bills. These tasks may be manageable if you’re able to recover, but in the case of a serious injury, such as a head injury, an LPA becomes essential to ensure that these practical matters are taken care of.

Recommended Action

Preparation is key. LPAs should be set up when they’re not urgently needed—when you have the time and clarity to consider who will assist you and how they will act. Having the right legal structure in place ensures that, if the worst happens, your family and friends won’t be burdened with managing your financial responsibilities during a difficult time.

Common Myths About Lasting Powers of Attorney

“I am married, so I don’t need an LPA because my spouse can handle everything.”
This is a common misconception. Marriage does not grant your spouse (or anyone else) automatic legal access to your finances. The only person who can access your finances is you, or someone named as an attorney in your LPA. In the case of a joint account, the co-holder may have access.

“Everything I have is set up by direct debit, so I don’t need an LPA.”
While direct debits may simplify financial management, issues can arise. For example, if a direct debit fails or the terms of a service provider change, such as a utility bill increasing, no one would be able to resolve these issues without an LPA.

“I don’t own anything of value, so I don’t need an LPA.”
Even if you believe you don’t own significant assets, most people own a car, have a bank account, live in a property (whether owned or rented), and—most importantly—have a horse. Financial responsibilities such as livery, feed, farrier, and veterinary bills may need to be managed by your attorneys. If you can’t make decisions about your horse’s care or future, your attorney will be able to manage these decisions for you.

“It won’t happen to me.”
While we all hope to avoid serious injury, the reality is that the risk is higher in equestrian sports. Why leave things to chance? Setting up an LPA ensures that, in the unfortunate event of an accident, your affairs will be handled smoothly and without unnecessary stress for your loved ones.

Conclusion

Setting up a Lasting Power of Attorney is an essential step for any equestrian. By planning ahead, you can ensure that, should the worst happen, your financial and personal affairs will be taken care of by someone you trust. Don’t wait until it’s too late—prepare today for a secure future tomorrow.

Hannah Pedley – Solicitor