Lasting Power of Attorney
Lasting Power Of Attorney
1. What is a Lasting Power of Attorney?
A Lasting Power of Attorney (often referred to as an “LPA”) is a legal document which appoints one or more people as your attorneys who can make decisions on your behalf. Once the LPA has been registered it can last for the rest of your life, even if you lose mental capacity.
2. I have already appointed Executors in my will, why do I need an LPA?
The Executors named in your will can only deal with your property and affairs after your death. Executors do not have any powers during your lifetime, even if you lose mental capacity. However you can choose to appoint the same people as your Executors and your Attorneys.
3. What type of LPA do I need?
Property and Affairs LPA – this deals with all of your property – this includes bank accounts, land and property, investments, payment of bills, pension, benefits – any of your assets that you would otherwise deal with yourself. Health and Welfare LPA – this allows your attorney(s) to make health and welfare decisions on your behalf BUT only when you lack mental capacity to do so yourself.
4. How long will it take?
An LPA can only be used by your attorneys after it has been registered with the Office of the Public Guardian. This process can take several weeks. We encourage clients to consider making an LPA before it’s needed. Mental capacity can be lost gradually (perhaps as a result of dementia) or instantly (perhaps as a result of an accident or stroke). Where there are doubts about a person’s capacity it may be necessary to obtain a medical opinion which will add to the cost of the LPA and will delay the process.
5. What happens if I do not have a Property and Affairs LPA?
If you do not have an LPA and you lose the mental capacity then an application may be required to the Court of Protection to appoint a deputy/deputies. This process can be time consuming and often takes several months. During this period your bank accounts and other assets may be inaccessible to you and your family. Court of Protection applications can be very expensive – the Court Fee alone is £400.
6. How much will it cost?
Our legal fees for the preparation of your LPA are fixed fees. There are no hidden extra charges. We can provide you with a detailed breakdown of the fees involved for your specific circumstances.
7. Why use Banner Jones?
We have 7 offices covering Chesterfield, Sheffield, Mansfield and North Derbyshire as well as a team of specialist solicitors experienced in preparing LPAs for clients. We also offer home visits where clients are unable to attend any of our offices.
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- the trading name of Banner Jones Wealth Management LLP (registered in England & Wales, number OC380075)
- is not a law firm authorised or regulated by the Solicitors Regulation Authority
- an Appointed Representative of Future Life Wealth Management Ltd which is authorised and regulated by the Financial Conduct Authority.