Lasting Power of Attorney
What is a lasting power of attorney?
A Lasting Power of Attorney lets you give someone you trust the power to step in and make decisions for you when you are not able to.
An LPA is a legal document giving the person or persons you trust (your attorneys) the authority to make decisions on your behalf if you become incapable of making them yourself. The LPA is prepared at a time when you are capable of making your own decisions and have mental capacity.
- A Health & Welfare Power of Attorney which lets someone you trust make decisions about medical treatments and your daily routine.
- A Property & Financial Affairs Power of Attorney which lets them manage your money and property for you.
Here at WEPC, you can make a power of attorney in under an hour. Our service guides you through every step of the lasting power of attorney forms. There is no jargon and no fuss. And if you need advice, our team are just a click or a phone call away.
Which LPAs can you write?
There are two types of Lasting Power of Attorney's (LPA's), one covering Health & Welfare and the other covering Property & Financial Affairs. You can make an LPA for one or both areas depending on your needs.
Can my attorney use the power of attorney as soon as it has been registered?
It depends on the type of LPA it is. A lasting power of attorney for Health & Welfare can only be used once you've lost mental capacity or when you are not able to make decisions for yourself. For example, if you are in an accident or develop a condition that affects your mind.
But if you make a Lasting Power of Attorney for Property & Financial Affairs, you can choose when it kicks in. Some people prefer their LPA to start right away, so that someone they trust can run errands for them and sign paperwork when they are busy. However, some people only want them to act once they have lost mental capacity or unable to make decisions for themselves.
How much does a Power of Attorney cost?
The costs for a lasting power of attorney can vary depending on how you get the documents sorted. You can save over 50% on the UK average when you purchase an LPA through The Will & Estate Planning Company
A typical LPA can range between £400 and £600 per person.
Here at The Will & Estate Planning Company, we charge from £198 per document
Whoever you complete your LPA with in the UK, you still have to pay the Office of Public Guardian registration fee at the time of registration. This can be anything from £0-£82 per form, although you may not have to pay the fee if you are on a low income or are on certain benefits.
What sort of questions are asked when you apply for power of attorney in the UK?
We take a simple, jargon-free approach to the legal power of attorney form. We'll guide you through each stage, explaining what any legal terms mean so that you can make informed decisions.
Before you start, you might like to think about:
- Your attorney(s) Who would you like to give the ability to make decisions for you?
- Your replacement attorney(s) If your attorney can not step in, who would you like to take their place?
- Decision making How would you like your attorneys to work together?
- People to notify Do you have any friends or family who should be told about your LPA before it goes into effect?
- Certificate provider Is there an old friend who can vouch for your state of mind? Or a doctor, or social worker?
- Preferences What would you like your attorney to take into account when they make decisions?
- Instructions Are there any rules you want your attorney to follow?
- Life-sustaining treatment (health LPA only) Would you like your attorney to be able to say yes or no to life-prolonging medical treatment?
Have someone to rely on
If you lose mental capacity without an LPA in place, it will be necessary for your family to apply to the Court of Protection to have a deputy appointed to deal with everyday financial matters. This is a slow and very expensive process, costing thousands of pounds. If you already have an LPA in place, this will not be necessary. Don't worry - WEPC are here to help and guide you through the whole LPA process from start to finish.
Why should I have one?
- Health conditions such as Dementia, Parkinson's disease, or a stroke can cause making decisions to become virtually impossible.
- If you lose mental capacity without an LPA, it can cost your family time and thousands of pounds to be given permission to handle your affairs.
- Without an LPA, any joint bank accounts you hold with your partner could become severely restricted. This can be devastating, especially if the joint owner has their income or pension paid into this account, or they use it to pay critical bills such as a mortgage or utility costs.
- A Lasting Power of Attorney is useful in a whole range of situations, for example if you had an accident, lost mental capacity, or became seriously unwell and unable to make day-to-day decisions about your health, welfare or financial situation. Lots of these situations can come out of nowhere, without much warning. This is why anyone above the age of 21 should consider having a Lasting Power of Attorney, so you are prepared for whatever life throws your way.
- If you should lose capacity without an LPA in place, someone will have to go to the Court of Protection to apply for a Deputyship Order - a very costly lengthy process. While the Court will make every effort to act in your best interests, you cannot assume that they will make the decision you would wish for and choose who you would want to act as your Deputy Attorney.
