What is a Lasting Power of Attorney (LPA)?
A Lasting Power of Attorney is a legal document which allows you to formally appoint others to make decisions for you in the event that you lose the mental capacity to make those decisions yourself. They can only be made while you have sufficient mental capacity to do so.
LPAs are very useful tools to have in place as they can avoid costly court proceedings – if a person has not made LPAs and they subsequently lose mental capacity due to an illness such as dementia, a mental health problem or a stroke, the Court of Protection will have to appoint a Deputy which can prove lengthy and expensive. LPAs are also useful where someone is, for example, out of the country for a while and unable to deal with their affairs in the UK; they can appoint somebody as their Attorney to deal with their affairs while they are away.
There are 2 types of Lasting Power of Attorney:
A Property & Financial Affairs LPA gives your Attorneys authority to deal with things like looking after your bank accounts, savings and investments, buying or selling your properties and claiming and spending welfare benefits on your behalf. A Health & Welfare LPA allows your Attorneys to make decisions such as where you live and about your day-to-day care. All lasting Power of Attorney have to be registered with the Public Guardian before they can be used. Whilst a Property & Affairs Lasting Power of Attorney can be used whilst the donor is still mentally capable the Health & Welfare Power of Attorney can only be used once the donor has lost mental capacity.
There are certain rules which apply to both types of LPA and there are various other types of Power of Attorney which may be useful in different circumstances. Our specialist lawyers can advise you on what will be best in your circumstances.
Oliver Fisher Solicitors can prepare your Lasting Powers of Attorney and arrange the registration with the Public Guardian to ensure that your affairs are dealt with by those you choose and to give you peace of mind should you lose mental capacity in the future.
Our charges for preparing Lasting Powers of Attorney start from £500 +VAT for one or £900 + VAT for both. Office of the Public Guardian fees of £110 per LPA are also payable. Please contact our solicitor Stephen West or his assistant Lisa Bilham on 0203 219 0145 or email him them at stephen@oliverfisher.co.uk or lisa@oliverfisher.co.uk to discuss the preparation of your Lasting Powers
