Who would you trust more – your family or the Local Authority? If you choose your family, you must put your Lasting Power of Attorney (LPA) in place to give you peace of mind that you’ve taken care of the things that matter most to you.
An LPA is a powerful legal document enabling you to appoint a trusted individual of your choice (an Attorney) to handle your affairs on your behalf if you can’t look after yourself through mental or physical incapacity. Your LPA should reflect your wishes and needs.
The cost for a single LPA is £360 but can be reduced by up to 50% if taken with one of our Estate Protection packages.
Lasting Power of Attorney for Property & Financial Affairs – This allows the persons appointed (The Attorneys) to make decisions about paying bills, dealing with banks and investments, arranging and collecting benefits and even selling property, on behalf of the Donor.
Lasting Power of attorney for Health and Welfare – This allows the Attorney(s) to make decisions for the Donor such as care issues, where the donor lives, and, where the donor wishes, giving or refusing consent to life sustaining treatment.
You may have had discussions with loved ones about your wishes should the unthinkable happen, commonly life sustaining treatment, medication and long term care. Without an LPA in place those wishes may be irrelevant, a doctor or the Local Authority will decide on your behalf. Alongside this bank accounts and investments could be frozen along with standing orders and direct debits to pay bills in your name. Even having a joint back account would not stop this happening.
No. It is too late to set up an LPA once you have a medical condition as a result of a stroke, Alzheimers or dementia. You could also become mentally incapable as the result of an accident, illness or old age. Without an LPA in place the only way your financial affairs can be managed is by an application being made to the Court of Protection for a Deputyship Order. ACT NOW before its too late!
If there is no LPA in place the Court of Protection will decide who looks after your affairs. This is not always the person you would have chosen. The deputyship order can take between 3 – 10 months to obtain depending on the complexity of the case. This can cause a financial burden for your loved ones, having your assets frozen during this period. The Deputyship Order itself is also very expensive. It is not uncommon to exceed £3000 in court and solicitors fees, plus an annual fee of £500 is also payable. Once obtained, the Deputy must report to the court/OPG at all times and may have to submit annual accounts for Court approval and receive periodical visits by a Court Visitor. A Deputy must account for every penny spent and any requests for money must be made to the Court in writing.
Our Fee for a Lasting Power of Attorney is £360 per document and is simple to arrange. Speak to your paralegal to find out how we can offer you peace of mind.