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Three Standard Fixed Price Packages

Making a Lasting Power of Attorney

A Lasting Power of Attorney, or LPA, is a very powerful legal document which effectively hands over the power to manage your affairs to another person, known as your “Attorney”.

We can advise on the creation, implementation and registration of a Lasting Power of Attorney.

There are two kinds of LPA that you can do. The first is known as a Property and Financial Affairs Lasting Power of Attorney. This power enables Attorneys to manage your financial affairs and property. The second is known as a Health and Welfare Power of Attorney under which Attorneys can make decisions about your health and welfare. In both cases the Attorney can make decisions on your behalf after you become mentally incapable of making them for yourself, but only if the LPA is registered with the Office of the Public Guardian.

Entering into a LPA is not a step to be entered into lightly and it is vitally important that you absolutely trust your appointed Attorney/s. However, LPAs can be immensely valuable, particularly where there is a real prospect that you may lose your mental capacity or do not feel up to managing the finances yourself.

In relation to the Property and Financial Affairs Lasting Power of Attorney, it may be that you would like your Attorney to act for you even though you still have mental capacity to do so for yourself. In order to be able to act under the LPA in this situation, the LPA will need to be registered with the Office of the Public Guardian.

Most people wrongly assume that a LPA is a document which will only benefit the elderly or infirm. Most care homes for instance will recommend that their residents have a LPA in place. However, it can also be extremely useful where a person has lost a partner who dealt exclusively with their joint finances and they just do not know where to start. In this instance the survivor may for instance call upon an adult child to help out.

Everyone should give serious thought to having a Property and Financial Affairs LPA, regardless of whether it is ever actually activated. Powers of Attorney are widely used in commercial and business transactions. Take for example the businessman who has complete control over the financial management of the business, including the bank account. If he has an accident and falls into a coma, who is going to take over the day to day running of the business? Without an authorised person at the helm to make sure that the suppliers, contractors, employees, landlords, HMRC etc still get paid, the business could quickly experience financial problems. Even couples can benefit from having a Property and Financial Affairs LPA in place so that if, for example, their mortgage is paid from the bank account of just one partner and he or she temporarily loses mental capacity or gets posted abroad the mortgage payments can still be kept up.

Whatever your personal circumstances are, we can assist with the creation, implementation and registration of a Lasting Power of Attorney.

Contact us today for details and a fixed fee quote.

Call 0800 052 3620

Or email solicitor@fixedpriceprobatesolicitors.co.uk

*Prices exclusive of VAT and Disbursements

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