What is a Lasting Power of Attorney (LPA) and why consider
making one?
LPA is a document that allows you (the Donor) to plan ahead by
choosing one or more people (your Attorneys) to act and make
decisions on your behalf.
There are 2 types of LPA:
1. Property and Financial Affairs
Attorneys can manage your finances and property both when you have mental capacity, and when you lack mental capacity. Your Attorneys can buy and sell property, paying bills, dealing with your tax affairs, operating your accounts, and claiming benefits on your behalf.
2. Health and Welfare
Attorneys can only make decisions about your health and welfare
when you lack the capacity to make them for yourself. They can make
decisions about where you live and they may consent to or refuse
medical treatment.
Why make a LPA?
What happens if you were involved in an accident or suffered a
debilitating illness? How would your partner or family deal with
your finances? your property?
If you own your property with your partner, if one of you is
incapable of signing paperwork, then you will have to apply for a
Court Order.
Why make a LPA now?
Wait and cross that bridge when you come to it? You have the capacity to make an LPA so wouldn't it be better to sort it now and have it stored safely?
The Process
- Complete the form and choose an Attorney(s) – you can decide if they act together and separately. You can add conditions. e.g. a doctor to certify your capacity, or take financial investment advice.
- Register the LPA at the Office of Public Guardian (OPG) - fee of £120. The LPA must be certified by a Certificate Provider.
Certificate Provider
An independent person who must certify that you understand the document and that no undue pressure or fraud is being used to induce you to create the LPA. Usually a solicitor or someone known to the Donor for at least 2 years.
What happens if you don't make a LPA and you lose mental capacity?
Your partner will need to apply to the Court of Protection for a Deputy to be appointed. This is a costly and time consuming process
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
