Life is unpredictable
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 solicitors can talk you through the process and help appoint someone to manage your affairs.
What is a Lasting Power of Attorney?
With a Lasting Power of Attorney, you can nominate an individual – or individuals – who you trust to manage these things if you become unable to do so yourself.
Once registered, 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.
How can we help?
Our fees are £175 per lasting power of attorney and include the preparation and submission for registration of your Lasting Powers. The Office of the Public Guardian also charge a registration fee of £82 per Lasting Power. Once submitted, it normally takes 8-12 weeks for registration to be completed.
Contact us to find out more about making an LPA, or ask us for a quote.