Lasting Power of Attorney (LPA)

 

A Lasting Power Of Attorney (or LPA) enables you to designate one or more people who can make decisions on your behalf during your lifetime.

 

 

What is a lasting power of attorney?

 

A Lasting Power of Attorney (or LPA) enables you to designate one or more people who can make decisions on your behalf during your lifetime. A LPA is an entirely separate legal document from your will. As both documents are equally as important to estate and inheritance planning, many people create both at the same time.

Anyone you appoint to manage your affairs is called an Attorney. Establishing a LPA provides confidence that someone you trust is in place to look after your financial, legal or medical affairs if you become incapacitated due to illness, an accident or simply because of or old age.

 

Giving your chosen ones the authority to manage your affairs

 

The LPA gives your attorney authority to deal with your finances and property and to make important decisions about your health and welfare. A LPA can only be created while you have the required mental capacity and are capable of understanding the nature and effect of the document. After that, entering into an LPA isn’t possible. 

Without an LPA in place, even your spouse isn’t automatically granted legal rights to manage your affairs. Any difficult decisions that have to be made on your behalf can be prolonged while becoming significantly more expensive.

 

Lasting Power of Attorney Service

Whatever life may throw at you, having a LPA will mean that someone you appoint can make decisions on your behalf should anything happen to you. This can cover a wide array of scenarios including incapacitation due to sickness, disease or accident.

If for any reason you are no longer able to communicate, a LPA will enable your preferences and wishes to be carried out.

Generally, an LPA can cover health, wellfare and ongoing care. This effectively helps those responsible for your care to understand your wishes as to who looks after you, where you are looked after and for your loved ones to be able to make decisions on your behalf.

 

An LPA can also be used to cover any financial affairs as well as property and assets. A property LPA means that people you appoint to be guardians can deal with your finances including managing your bank accounts, investments, pensions and assets.

A financial LPA will also mean things such as bill payments and other payments that usually require your permission, can be dealt with by those appointed.

Whatever the scenario, we can help with the LPA drafting and filing, so, that, should anything ever disrupt your life or ability to manage any aspect of it, someone you appoint can be there to keep things moving forward for you. We offer a comprehensive LPA service.

 

Want to discuss a lasting power of attorney enquiry? Need some adivce?

 

If you are interested in creating a lasting power of attorney or have some questions around LPA’s, we can help. Simply get in contact with making-a-will.co.uk to see how our personalised LPA service can help you.

What role does a LPA play?

 

Under English law, there are two types of Lasting Power of Attorney, one dealing specifically with health and welfare, and the other dealing with property and financial affairs

A Property and Financial Affairs LPA lets you name Attorneys who can manage your property and financial assets in England and Wales. This document can be used broadly, for example, if you fall ill, or spend extended periods of time outside the UK. It can also be restricted to apply only if you were to lose mental capacity. 

A Health and Welfare LPA lets you name Attorneys who can make decisions about your medical care and other arrangements if you lose the capacity to make those decisions. A health and welfare LPA can only be activated if you lose the mental capacity to make decisions.

 

Why it’s important to consider a lasting power of attorney

To have the confidence that a person you trust will have the legal authority to look after your affairs and make decisions in line with your beliefs, specific desires and stated preferences.

Without a health and welfare LPA, you could end up in a care facility after being incapacitated, even if you would have preferred to stay home. You could also be given medical treatments that you would have refused in normal circumstances. In cases like these, your designated Attorney under the LPA can express your wishes for you.

Without an LPA in place, there won’t be anyone with the legal authority to sell your property, access bank accounts, or liquidate or transfer investments. You might assume,as many people do, that your spouse or children will be handed power to manage their affairs, but under British law that simply isn’t the case.

If you are incapacitated without an LPA in place, anyone wanting to secure legal authority over your affairs would need to apply to the Court, which will make the final decision as to who will be appointed to manage your affairs. The selected person becomes your ‘Deputy,’ a more involved and costly role to establish. It is much easier to appoint an attorney under an LPA.

Want to discuss a lasting power of attorney enquiry? Need some adivce?

 

If you are interested in creating a lasting power of attorney or have some questions around LPA’s, we can help. Simply get in contact with making-a-will.co.uk to see how our personalised LPA service can help you.

Keeping your will safe & giving you peace of mind

Having a will drafted and independently verified by the New Leaf Will Writers Federation is one way to gain peace of mind. Another is for New Leaf to store a copy of your will securely for safe keeping, giving you an additional layer of protection.

How We Can Help

Some of the key things we can help with include

Full Will Writing

From start to finish we can provide full will writing services to create and draft a will to meet your needs.

Executors & Trustees

We can advise you on appointing an executor, trustee as well as the process that follows after passing.

Guardians

Should anything happen to you, a guardian can be appointed to take care of your dependents under the age of 18.

Inheritance Tax Planning

Sound guidance on the distribution of assets, IHT and future tax planning to reduce liability where possible.

Will Amendments

Changed your mind? Change of circumstances? We can assist with all will amendment enquiries.

Will Storage

Will storage provided by New Leaf from just £7. Full secure storage facilities with CCTV, Fire and Flood protection & more.

It costs £82 in the UK to register an LPA + associated fees for having an LPA drafted with all relevant considerations based on your circumstances & preferences.

Want to discuss a lasting power of attorney enquiry? Need some adivce?

 

If you are interested in creating a lasting power of attorney or have some questions around LPA’s, we can help. Simply get in contact with making-a-will.co.uk to see how our personalised LPA service can help you.

Making A Will

Let’s get started. If you haven’t got a will or maybe you have a will that you are unsure of, get in contact with us today. We offer a personalised, friendly will writing service as well as will reviews backed by the New Leaf Will Writers Federation.

We offer our clients peace of mind.

So you can get on with what truly matters.

 

Our Offices

Unit 7,
19 Greenwood Place,
London
NW5 1LB

0800 488 0682

info@making-a-will.co.uk

Follow Us

Follow us on social media for the latest news and updates relating to will writing, LPA’s and more.