Lasting Powers of Attorney
Have you thought about what would happen if you were to lose mental capacity?
This could happen at any stage of your life, not just in your later years. For example, if you had a stroke or were involved in an accident, everyday tasks such as managing your bank accounts; paying your bills and maintaining your property would become very difficult, if not impossible, as your spouse and/or loved ones do not have an automatic right to assist you in such circumstances.
Making a Lasting Power of Attorney (LPA) ensures that the people you choose and trust would have the legal authority to manage your affairs and make decisions on your behalf in the event of your incapacity.
A Lasting Power of Attorney (LPA) is a legal document which enables you to plan ahead and to state what you would like to happen should you become incapable of managing your affairs in the future. Like an insurance policy, it is something you put in place while you are fit and well and hope you never need, but in the event of your incapacity, such a document can be invaluable. An LPA can only be made while you are fit and well and have full mental capacity.
Within the LPA you appoint one or more people to be your attorneys. They will then be able to make decisions on your behalf if required. An attorney can be anyone you choose and trust as long as they are over 18 years old and have full mental capacity. Your partner or spouse can be your attorney. Your attorney(s) must consider your best interests when making a decision on your behalf.
There are two types of LPA:
(1) Property and Financial Affairs LPA
This gives your attorney the authority to deal with your property and finances, such as dealing with your bank accounts; paying your bills; arranging insurance; drawing your pension and buying or selling your property.
(2) Health and Welfare LPA
This allows your attorney to make health and care decisions on your behalf, but only when you lack mental capacity to do so yourself. This could also extend, if you wish, to giving or refusing consent to life sustaining treatment on your behalf.
Any Enduring Power of Attorney (EPA), validly made before 1st October 2007, can still be used, but only in respect of your property and financial affairs. If you wish to give your attorney(s) authority to make decisions regarding your your health or welfare, you will need to make a health and welfare LPA.
The Importance of LPAs
- Peace of Mind: Knowing that you have designated someone you trust to make important decisions on your behalf provides peace of mind, both for you and your loved ones.
- Preventing Family Disputes: Clear instructions through an LPA can help prevent disagreements or disputes among family members regarding your care and finances.
- Avoiding Court Intervention: Without an LPA in place, the Court of Protection may need to step in, which can be time-consuming, costly, and emotionally draining for your loved ones.
What happens if you have not made a Lasting Power of Attorney?
If you lose mental capacity and have not made an LPA (or have not made an old style EPA), then someone will need to apply to the Court of Protection for a Deputyship Order to act on your behalf.
The Court will then decide whether or not to appoint them to make decisions on your behalf.
Although the Court will seek to appoint somebody who would act in your best interests, you could potentially have somebody managing your affairs who you would not have chosen had you had capacity. It could even be someone you don’t know and not necessarily a family member.
Furthermore, an application to the Court is very time consuming and costly. It may be up to 12 months before somebody is able to access your finances. This can be a very stressful for your family who will not be able to access your bank account to pay your bills whilst waiting for a Court Order. To avoid this, we suggest that you put in place an LPA as soon as possible.
Our Approach to LPAs
At Yates Legal, we understand the sensitivity and importance of Lasting Power of Attorney. Our dedicated team of experienced Solicitors will work closely with you to:
- Provide Expert Guidance: We will explain the intricacies of LPAs, ensuring you fully understand the implications and benefits.
- Customised Solutions: We tailor each LPA to your specific needs, taking into account your unique circumstances and preferences.
- Streamlined Process: We aim to make the process as smooth and efficient as possible, ensuring that your LPA is legally sound and in accordance with your wishes.
- Fixed Fee Service, no hidden extras: Our fees include us providing the certificate of mental capacity required within the LPA; advising and guiding you through the process of choosing attorneys and how they should act; and preparing the application to register the LPAs. We do not add extra fees for the registration application or for the certificate of capacity. Our LPAs start from £350 plus VAT.
Contact Us
Yates Legal is a trading name of Yates Legal Limited, a private company limited by shares, registered in England and Wales (number 13936912). Yates Legal Limited is authorised and regulated by the Solicitors Regulation Authority SRA ID Number 8004732. Our professional rules can be found at https://www.sra.org.uk/solicitors/standards-regulations/ A list of the company's directors is available from the company's registered office.