Lasting Powers Of Attorney
It is uncomfortable to imagine what our lives would be like if we ever lost physical or mental capacity to manage our own affairs, for example following a stroke, serious accident or through dementia. When planning for the future it is sensible to plan for as many eventualities as possible. A Lasting Power of Attorney can help you achieve this.
What is a Lasting Power of Attorney?
A Lasting Power of Attorney (or LPA) appoints somebody you trust, usually a relative or friend, to look after your affairs if you are no longer able to deal with things yourself. The person you appoint is called your “attorney”. An attorney is not the same as an executor in your Will. Your executor(s) deal with what happens to your assets after your death. An LPA takes effect during your lifetime and ceases on your death.
Why should I arrange a Lasting Power of Attorney?
If you lose mental capacity so that you are no longer able to manage your own affairs, your
bank/building society may freeze your accounts (including joint accounts) until a person is appointed by the Court of Protection to act as your Deputy. Applying to the Court for Deputyship can take months and may cost several thousand pounds plus on-going expenses. Without a Lasting Power of Attorney your relatives will also be unable to discuss your benefits, utility bills, medical records etc with the appropriate organisations because of Data Protection Act rules. It is therefore advisable to make a Lasting Power of Attorney when you are well so that you can choose a person you trust to manage your affairs should you lose mental capacity in the future. Making an LPA costs significantly less than Deputyship.
I have heard that LPA’s must be certified. What does this mean?
It is a legal requirement that a Certificate Provider signs your LPA to confirm that you understand what is involved in making your LPA, the practical effect of the document and that you are not being pressurised into making it.
The Wills & Trusts Lawyer is authorised as a relevant professional to undertake the role of Certificate Provider.
There are two types of Lasting Power of Attorney:
Property and Financial Affairs LPA - this enables your chosen Attorney(s) to pay bills, deal with utility companies, access bank accounts, manage your pensions, benefits and investments. It may also allow your attorneys to sell your home if this is in your best interests.
Health and Welfare LPA – this deals with your personal welfare and medical treatment. It allows your chosen Attorney(s) to make decisions on your behalf about your personal care, diet, dress, where you live and medical treatment. It can also include an option to give your Attorney(s) the authority to consent to or refuse life sustaining medical treatment on your behalf.
Can an LPA be used straight away?
An LPA cannot be used until it has been registered with the Office of the Public Guardian.
The Wills & Trusts Lawyer can complete the registration process on your behalf.
Registration Fees:
Unless you receive certain “means tested” benefits, you will need to pay a fee to the Office of the Public Guardian (OPG) to register each LPA.
Why should I use the Wills & Trusts Lawyer?
The Wills & Trusts Lawyer can provide detailed professional advice on setting up your LPA(s) and suggest useful provisions to include that will make the administration of your affairs run as smoothly as possible. We can act as your Certificate Provider and also complete the registration process for you.
The Wills & Trusts Lawyer
© Copyright. All rights reserved.
We need your consent to load the translations
We use a third-party service to translate the website content that may collect data about your activity. Please review the details in the privacy policy and accept the service to view the translations.