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Lasting Powers of Attorney (LPAs) are legal documents which allow you, as the ‘donor’, to appoint one or more people, to act as your ‘attorneys’, to assist you in making decisions or make decisions on your behalf should in the future you be unable to do so yourself.
There are two types of LPA, and you can choose to make one or both, although most people put both in place to maximise their powers and protection.
- LPA for Property and Financial Affairs – these covers decisions such as:
- Looking after and paying your bills
- Managing your bank accounts and investments
- Buying, selling, or maintaining your home
The LPA for Property and Financial Affairs gives you the option to also allow your attorneys to act on your behalf with your consent while you still have capacity, should you wish. This could be helpful in circumstances whereby you are perhaps out of the country on holiday or simply unwell and require assistance but still have mental capacity.
- LPA for Health and Welfare – these covers decisions such as:
- Where you live
- Daily routine
- Medical care
- Life sustaining treatment
The LPA for Health and Welfare can ONLY be used should you lose capacity and be unable to make decisions anymore.
Why should you put LPAs in place?
LPAs are designed to extend your powers rather than limit or give them away. With rising cases of dementia in the UK and other common illnesses such as cancer they enable you to plan effectively for the future and choose people you trust to make decisions for you.
Having an LPA can avoid conflicts among family members about who should make decisions on your behalf, and what that decision should be. Different opinions on what course of action to take can lead to disagreements during an already stressful time. An LPA would explicitly state who your trusted attorneys are and your wishes providing clear guidance.
What could happen if you don’t make an LPA?
If you don’t make an LPA, you will not be able to decide who makes decisions for you should you lose capacity. This means that your loved ones might be excluded from making important decisions on your behalf.
Additionally, your family or friends may have to apply to the Court of Protection for a Deputyship Order to be able to make decisions on your behalf. A very costly and time-consuming process for all involved.
Our team at Aston Bond is experienced in handling Lasting Power of Attorney applications and can assist you throughout the whole process. Please do not hesitate to call us today on 01753 486777 or email us on info@astonbond.co.uk to arrange a meeting to discuss your requirements.
For your information, we prepare Lasting Powers of Attorney on a fixed fee basis. Please see below for our costs:
- Individual Lasting Power of Attorney X 1 (Finance & Property OR Health & Welfare) – £500.00 + VAT
- Individual Lasting Power of Attorney X 2 (Finance & Property AND Health & Welfare) – £600.00 + VAT
- Couples Lasting Power of Attorney X 1 (Finance & Property OR Health & Welfare) – £600.00 + VAT
- Couples Lasting Power of Attorney X 2 (Finance & Property AND Health & Welfare) – £750.00 + VAT
There is also a further registration fee of £82.00 per application for registering the documents with the government body that manages LPAs The Office of the Public Guardian. The documents must be registered before they can be used.
There is also an additional one-off charge for fixed fee Lasting Power of Attorney files to cover our case management, archiving, and administration fees. This is £45.00 + VAT. There are no ongoing annual charges for these services, and we also offer to store your original Lasting Power of Attorney documents without any additional charge!
