Just Inherited Money or Property? Why You Need an LPA Now

Inheriting money or property is a significant life event. Whether it is a parent's house, a relative's savings, or an unexpected windfall, you are suddenly responsible for assets that may be worth tens or hundreds of thousands of pounds.

Most people who inherit focus on the immediate questions: Should I sell the property? Where should I invest the money? What are the tax implications?

But there is a question almost nobody asks — and it is arguably the most important one:

What happens to this inheritance if you lose mental capacity?

Without a Lasting Power of Attorney in place, the answer is alarming: nobody can manage it. Your family cannot sell the property. They cannot access the money. They cannot make investment decisions. Everything is frozen until a court steps in — at enormous cost.

You have just received assets that someone worked their whole life to build. Do not let them be consumed by legal fees because you did not spend 15 minutes setting up an LPA.

Protect Your Inheritance — LPA From Just £74 →

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The Inheritance Problem Nobody Talks About

When you inherit, your total asset base increases — often dramatically. If you had modest savings before, you might now have a property portfolio, a significant investment account, or a large cash sum.

Here is what most people do not realise: the more you own, the more you stand to lose without an LPA.

Without an LPA: The Court of Protection

If you lose mental capacity without an LPA (due to an accident, illness, stroke, or dementia), the only way for anyone to manage your affairs is through the Court of Protection. This means:

Application costs of £1,000 to £5,000+ in legal and court fees
Waiting 4 to 12 months for the court to appoint a deputy
Ongoing annual supervision fees paid from YOUR estate — your inheritance
Mandatory security bonds — insurance that can cost hundreds per year
Annual reports detailing every financial transaction — prepared at your estate's expense
Court approval needed for major decisions like selling property

Over the years, these costs can run into the tens of thousands of pounds. All coming out of the inheritance someone left you.

With an LPA: Immediate Protection

With a registered Property and Financial Affairs LPA:

Your chosen attorney can manage your finances immediately
No court application needed — saving thousands
No ongoing supervision fees
No security bonds
Your attorney can sell property, manage investments, and pay bills without court permission
Total cost: £74 for the LPA + £82 OPG registration = £156

The choice is simple: £156 now, or potentially tens of thousands later.

Get Your LPA — Just £74 →

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What Your Inheritance Actually Needs Protection From

Scenario 1: You Inherit a Property

You have inherited your parent's house, worth £300,000. You are deciding whether to sell it, rent it out, or keep it.

Then you have a stroke. You survive, but you cannot communicate or make decisions for months.

Without an LPA:

The property sits empty, deteriorating
Council tax bills go unpaid
Insurance may lapse because no one can renew it
If there is a mortgage, payments are missed
Vandalism, water damage, or other issues go unaddressed
Your family watches helplessly while the property loses value
A Court of Protection application takes months — meanwhile the house rots

With an LPA:

Your attorney can pay council tax and insurance
They can arrange maintenance and repairs
They can let the property to generate income
They can sell it if that is in your best interests
Everything is handled immediately, without court involvement

Scenario 2: You Inherit a Large Sum of Money

You receive £200,000 from a relative's estate. You put it in savings while you decide what to do.

Then you develop early-onset dementia at 58.

Without an LPA:

The money sits in an account earning minimal interest
No one can move it to a better account or invest it
If you need care, no one can access the funds to pay for it
Your family must apply to the Court of Protection — costing thousands from your inheritance
By the time a deputy is appointed, months of care costs have accumulated as debt

With an LPA:

Your attorney can manage the money from day one
They can invest it wisely or move it to better accounts
They can pay for your care immediately
No court involvement, no delay, no wasted money

Scenario 3: You Inherit a Business Interest

You inherit shares in a family business or a rental property portfolio. These require active management — decisions about tenants, maintenance, business operations.

Without an LPA: Nobody can make these decisions. The business or property portfolio stagnates. Tenants leave. Contracts expire. Value erodes.

With an LPA: Your attorney can step in immediately and manage these interests on your behalf.

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The Numbers That Matter

Let us put this in perspective:

With LPA

Without LPA

Setup cost	£74 per LPA	N/A
OPG registration	£82 per LPA	N/A
Court application	Not needed	£1,000-£5,000+
Annual supervision	Not needed	£320-£1,000+ per year
Security bond	Not needed	£200-£500+ per year
Time to activate	Immediate	4-12 months
Who decides?	Your chosen person	A judge

Total cost of both LPAs: £304 Potential cost without them: £10,000+ over five years

You have just inherited assets. Spending £304 to protect them is not just sensible — it would be reckless not to.

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Other Reasons Inheritance Should Trigger an LPA

Your Will Needs Updating Too

If you have inherited significant assets, your existing Will (if you have one) probably does not account for them. While you are sorting out your LPA, update your Will to include your inherited assets.

But remember: a Will only works after you die. An LPA protects you while you are alive. You need both.

Tax Planning May Be Needed

Inherited assets may have inheritance tax implications for your own estate. Your attorney needs the legal authority to implement tax-efficient strategies on your behalf if you lose capacity.

Property Maintenance Cannot Wait

If you have inherited property, it needs ongoing management. Without an LPA, nobody can authorise repairs, pay tradespeople, or deal with tenant issues if you lose capacity. Problems that cost hundreds to fix now cost thousands if left for months.

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How to Protect Your Inheritance in 15 Minutes

Setting up an LPA with myLPA is straightforward:

Go to myLPA and start the guided questionnaire

Choose your attorneys — who do you trust to manage your finances if you cannot?

Set any restrictions — you can limit what your attorneys can do

Add replacement attorneys — backup in case your first choice cannot act

Complete the process — including certificate provider details

Sign and register — send to the OPG with the registration fee

The whole online process takes about 15 minutes. The cost is just £74 per LPA — the cheapest in the UK.

Start Your LPA in 15 Minutes — Just £74 →

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Frequently Asked Questions

I have only just inherited — is it really that urgent?

Yes. You cannot predict when you might lose capacity. An accident, stroke, or sudden illness can happen at any age. The sooner your LPA is in place, the sooner your assets are protected. Registration takes 8-12 weeks, so the earlier you start, the better.

Does my spouse automatically have access to inherited assets?

No. If the inheritance is in your sole name, your spouse has no automatic legal right to manage it. Even joint assets may be frozen if you lose capacity. An LPA is the only way to ensure someone can step in.

I already have an LPA — do I need to update it?

Your existing LPA should cover any new assets automatically, as it gives your attorney general authority over your property and financial affairs. However, it is worth reviewing your LPA to make sure your attorney choices are still appropriate given your changed financial circumstances.

How much does an LPA cost compared to Court of Protection?

An LPA with myLPA costs £74 (plus £82 OPG registration). Court of Protection Deputyship costs £1,000-£5,000+ initially, plus ongoing annual fees of £320-£1,000+. Over five years, the difference can be tens of thousands of pounds.

What if I inherited jointly with siblings?

Each person needs their own LPA. Your LPA covers your share of the inheritance. If you lose capacity without an LPA, your siblings cannot manage your share — even if they are co-owners.

Should I get a Health and Welfare LPA too?

Yes. While the Property and Financial Affairs LPA protects your assets, a Health and Welfare LPA ensures someone you trust can make medical and care decisions if you lose capacity. Both are essential for complete protection.

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Your Inheritance Is Someone's Legacy — Protect It

Someone worked their entire life to build the assets you have inherited. They wanted those assets to benefit you and your family — not to be eaten up by court fees and legal costs because of a missing piece of paperwork.

An LPA costs £74. It takes 15 minutes. And it protects potentially hundreds of thousands of pounds.

Do not let bureaucracy and court costs consume your inheritance. Get your LPA in place today.

Protect Your Inheritance Now — From £74 →

*myLPA is the UK's cheapest LPA service at just £74 per LPA. Trusted by thousands of families across the UK. Questions? Call 0333 049 5033.*

Just Inherited Money or Property? Why You Need an LPA Now