Life is unpredictable. This is where creating a Lasting Power of Attorney can help.
We don’t know when we might become unable to pop down to the bank to manage our accounts, or sign the papers necessary to transfer, sell or rent property.
If you are temporarily or permanently unable to manage your own affairs and make your own decisions, it is important that people you trust are able to do this for you (your attorneys). Our approachable Lasting Power of Attorney solicitors in London can talk you through the process and help appoint someone to manage your affairs.
Call 0208 907 2699 or email info@mscsolicitors.co.uk to find out more about Lasting Power of Attorney costs.
What is a Lasting Power of Attorney or LPA?
With a Lasting Power of Attorney, you can nominate an individual – or individuals – who you trust to manage your affairs if you become unable to do so yourself. These can include things like care, investments and property.
Once registered in London or elsewhere, a Lasting Power of Attorney will be valid for the rest of your life, or until you revoke it. It can be used by your attorneys straight away. Alternatively, it can be restricted to only be used in the event that you become unable to make decisions for yourself.
The two types of Lasting Powers of Attorney
- Property and Financial Affairs LPA
Gives your attorneys the power to manage your property and finances, if you’re unable. This includes land, bank accounts, and investments such as stocks and shares. - Health and Welfare LPA
Gives your attorneys the power to make decisions relating to your health, in the event that you are unable to. This will include the type of care that you should receive.
You can choose to have one power of attorney, or both. You can incorporate restrictions into your Lasting Power, including for it to apply only to certain land/property. Once your Lasting Power of Attorney is prepared, it must be registered at the Office of the Public Guardian before it can be used by your attorneys.
Why should you use a solicitor to create a LPA?
Creating a Lasting Power of Attorney (LPA) is a significant step in planning for your future. While you are not legally required to use a solicitor to set one up, there are several advantages to seeking professional legal assistance:
- Understanding the process — our team of solicitors have decades of experience dealing with the process of setting up LPAs. We can ensure that your LPA is completed accurately, avoiding potential errors or omissions that could delay the registration process or invalidate the document.
- Expert guidance and personal advice — solicitors like our team have the legal expertise and experience to guide you through the LPA process, providing clarity and answering any questions you may have about your specific situation. Not only that, but we can offer tailored advice based on your personal circumstances, helping you make informed decisions about appointing attorneys and specifying instructions or preferences.
- Navigating complex situations — if you have a complex financial situation, own a business, or have specific wishes regarding medical care, we can provide valuable assistance in drafting an LPA that accurately reflects your needs.
- Peace of mind — aside from the above, working with professionals simply provides peace of mind that your LPA is legally sound, and your interests are protected in the best way possible.
How can our LPA solicitors in London help?
If you are setting up both types of LPAs (Property and Financial Affairs and Health and Welfare), the total registration fee will be £184.
It’s important to note that in some cases, you may be eligible for a fee exemption or reduction if you meet certain criteria, such as receiving specific benefits or having a low income.
- Fee Exemption — if you receive certain means-tested benefits (such as Income Support or Universal Credit), you might qualify for a fee exemption.
- Fee Reduction — if your income is below £12,000 per year, you might be eligible for a 50% reduction in the registration fee, bringing the cost down to £46 per LPA.
Solicitor Fees
While it’s possible to complete LPA forms and submit these yourself, many people choose to use a solicitor to ensure accuracy and to receive professional guidance tailored to their specific circumstances. Solicitor fees can vary based on the complexity of your situation and the solicitor’s expertise.
Why do you require a Lasting Power of Attorney?
There are several reasons why having an LPA set up is crucial:
Protection of your interests — an LPA ensures that your personal, financial, and healthcare decisions are made by someone you trust. Without an LPA, your loved ones may face difficulties in managing your affairs, potentially leading to decisions being made that do not align with your wishes.
Avoid complex legal proceedings — without an LPA, your family or friends may need to apply for a court-appointed deputyship if you lose the capacity to make decisions. This process can be time-consuming, costly, and stressful for everyone involved. An LPA prevents the need for such proceedings by clearly outlining your chosen decision-makers in advance.
Peace of mind — having an LPA provides peace of mind, knowing that your affairs will be handled according to your preferences. Whether it’s managing your finances or making healthcare decisions, you can have confidence that your best interests are being safeguarded by those you trust.
Ensures stability — an LPA helps maintain stability in your personal and financial affairs by allowing your attorneys to step in should you become unable to manage them yourself. This continuity ensures that bills are paid, investments are managed, and healthcare decisions are made without interruption.
Helps to prevent family disputes — by clearly pinpointing your attorneys and outlining your wishes in an LPA, you can help prevent potential disputes among family members regarding your care and financial matters. This helps reduce stress and potential disagreements during already challenging times.
Timely decision-making — in some situations, urgent decisions are required, such as medical emergencies or financial transactions, and having an LPA ensures that decisions can be made swiftly and according to your preferences, without delays.
Support for vulnerable people — an LPA is particularly important for those with progressive health conditions, such as dementia, where future decision-making capacity may be compromised. By planning, you can ensure that your care and finances are managed effectively, even as your condition changes.
How much does a solicitor charge for power of attorney in the UK?
The cost of setting up a Lasting Power of Attorney (LPA) with a solicitor typically ranges between £250 and £500 per document, depending on the provider and the complexity of the individual’s circumstances. This fee usually covers the preparation of the forms, legal advice, and ensuring the document is correctly signed and witnessed.
In addition to the solicitor’s fee, there is also an £92 government registration fee per LPA, which is paid to the Office of the Public Guardian. If you choose to set up both a Property and Financial Affairs LPA and a Health and Welfare LPA, you should expect to pay for each separately, although some firms may offer combined rates.
Our Lasting Power of Attorney fees are £250 + VAT per LPA. These include the preparation and submission for registration of your Lasting Powers by a qualified LPA solicitor in London.
Consultation and advice to discuss your needs and explain the LPA process.
Witnessing and certification of the documents, including assistance with signing and witnessing the documents correctly.
Once submitted, it normally takes 8-12 weeks for registration to be completed.
How do you set up a Lasting Power of Attorney?
Setting up a Lasting Power of Attorney (LPA) is a relatively straightforward process, however many choose to work with solicitors to ensure it is handled in the most accurate manner for your situation.
The general steps to follow to create a Lasting Power of Attorney are:
Decide on the type(s) of LPA you require
As mentioned, there are two types of LPAs, Property and Financial Affairs and Health and Welfare, and you can choose one or both, depending on your needs.
Decide who will be your attorneys
Selecting the right people to act as your attorneys is an important step. You must choose people over 18, such as a family member, friend, or a professional like a solicitor. You can appoint one or multiple attorneys and specify whether they must act jointly (where they all must agree on decisions) or jointly and severally (where they can make decisions independently).
You should also consider appointing replacement attorneys who can step in if your original attorneys can no longer fulfil their role.
Complete the LPA Forms
To create an LPA, you must fill out specific forms available from the Office of the Public Guardian (OPG). These forms require you to fill in your personal information, specify your attorneys and relationships to you, and add specific instructions or preferences about how your attorneys should make decisions on your behalf.
Sign and witness your LPA forms
Once the forms are completed, they need to be signed and witnessed. The person setting up the LPA(s) must sign the forms, and this signature needs to be witnessed by an independent adult who is not an attorney or replacement attorney. Each attorney must also sign the forms, and their signatures need to be witnessed by an independent adult.
An independent adult must also confirm that the person setting up the IPA understands it and isn’t under any pressure to create it. This person can be someone who has known you for at least two years or a professional, such as a doctor or solicitor.
Register the LPA with the Office of the Public Guardian (OPG)
The LPA must be registered with the OPG before it can be used, and this process can take between 8 and 12 weeks. You will need to send the completed and signed forms to the OPG, along with the registration fee (currently £92 per LPA).
You will receive confirmation once the LPA has been registered and can be used, or you will be notified if there are any errors or objections to address.
Notify the relevant parties
Once your LPA is registered, it’s important to inform relevant parties that you have an LPA in place should anything happen. This can include informing:
- Financial institutions such as banks and investment firms.
- Healthcare providers such as your doctor’s practice and any other relevant healthcare providers about a Health and Welfare LPA.
- Family members and other relevant parties to ensure they are aware of your wishes and the LPA’s existence.
Store your LPA documents securely
Once registered and ready for use, you should keep your original LPA documents in a safe place and provide certified copies to your attorneys. It’s essential to ensure that these documents are easily accessible when needed.
Review and update your LPA where necessary
People’s circumstances may change over time, so it’s a good idea to review your LPA periodically, for example in the instance of:
Changes in relationships — if your relationship with an attorney changes, or they can no longer fulfil their role.
Changes in preferences — if your preferences or instructions change.
Why Choose MSC Notaries?
If you’re considering setting up a Lasting Power of Attorney or simply need guidance on the process, MSC Notaries is here to help. Our friendly, experienced team offers professional support tailored to your specific needs, whether you’re planning for the future or assisting a loved one. We offer both Lasting Powers of Attorney and a range of other services, including:
Contact us today to book an appointment or ask any questions you may have. We’re happy to talk through your situation and advise you on the most suitable next steps.
FAQs about Lasting Powers of Attorney
Who can be an attorney under a LPA?
Choosing the right people to be your attorneys under a Lasting Power of Attorney (LPA) is an important decision that shouldn’t be taken lightly, as it can have implications for your future. Here’s what you need to know about who is eligible to be appointed as an attorney:
Eligibility criteria:
- They must be at least 18 years old
- They must have the mental capacity to make decisions on your behalf
- They must be trustworthy and reliable
Types of attorneys:
- Family members — many people choose close family members such as spouses, adult children, or siblings
- Friends — trusted friends can also be suitable attorneys, especially if they understand your values and preferences
- Professional attorneys — you can appoint professionals, such as solicitors or accountants, which can be useful if you have complex finances or don’t have a trusted family member or friend to fulfil the role
- Business associates — if you own a business, you might consider a business partner or associate to manage business affairs
How do you choose an attorney?
Choosing an attorney involves careful consideration of several factors:
Trust and reliability:
You should make sure to pinpoint someone you trust wholly to act in your best interests and follow your wishes. In addition, choose someone that is generally dependable, responsible, and capable of managing your affairs effectively.
Shared values and communication:
Ideally, your attorney should understand your values and preferences, especially regarding health and welfare decisions. Ideally, they should also be able to communicate these well with other family members, medical professionals, and financial institutions.
Willingness to act:
Always discuss the role with your potential attorney(s) beforehand and get their consent where possible to ensure they are willing and prepared to take on the responsibility. In addition, make sure your chosen attorney(s) understand the legal responsibilities involved and are comfortable making potentially difficult decisions.
Can I change or cancel my LPA?
You can change or cancel your Lasting Power of Attorney at any time, provided you have the mental capacity to do so. Whether you need to update your attorneys or revoke the LPA entirely, it’s important to follow the correct procedures and notify all relevant parties to ensure your wishes are respected.
How long does it take to register an LPA?
The registration of an LPA typically takes between 8 and 10 weeks from the time the Office of the Public Guardian (OPG) receives your application, providing there are no errors or issues with the form and that no objections are raised. This processing time includes a 4-week statutory waiting period, which allows for any objections to be raised by interested parties, such as family members or other individuals named in the LPA.