What is a Lasting Power of Attorney?

Understanding a Lasting Power of Attorney (LPA)

A Lasting Power of Attorney (LPA) is a legal document that allows you to appoint someone you trust to make decisions on your behalf if you become unable to do so due to accident, illness, or loss of mental capacity. By putting an LPA in place now, you can be confident that your wishes will be respected and your affairs managed according to your instructions, even if you are no longer able to make decisions yourself.

It is important to note that you must have mental capacity at the time the LPA is created. Once capacity is lost, it is no longer possible to make an LPA. For this reason, we recommend considering an LPA sooner rather than later.

Types of Lasting Power of Attorney

There are different types of LPAs, depending on which areas of your life you wish your Attorney to manage:

Property & Financial Affairs LPA

This LPA allows your Attorney to make decisions about your finances and property, including:

• Managing your bank or building society accounts
• Paying bills, including setting up or cancelling direct debits
• Collecting benefits, pensions, or other income
• Selling your home
• Making gifts on your behalf

A Property & Financial Affairs LPA can be used as soon as it is registered, with your permission.

How to Set Up an LPA

To be valid, an LPA must be registered with the Office of the Public Guardian. You must be capable of making your own decisions at the time of setting up the LPA. As part of the process, a certificate provider—either someone who has known you personally for at least two years or a qualified professional—must confirm that you understand the implications and are making the LPA of your own free will. Certain family members and others are excluded from acting as certificate providers.

At Jordans Solicitors, we can assist you with every aspect of creating an LPA, from helping you choose your Attorney and deciding which type of LPA is right for you, to ensuring the documentation is completed and registered correctly.

Costs

For one person – Financial LPA

Legal Fees: £375.00

VAT: £75.00

Court Fee*: £92.00

Total: £542.00

For a couple – Financial LPA

Legal Fees: £700.00

VAT: £140.00

Court Fee*: £184.00

Total: £1024.00

*Court fees are only applicable if you are registering the Power of Attorney. Fee exemptions may be available depending on your circumstances. Additional fees may apply for home visits or if a professional certificate provider is required.

If you would like to discuss making a Lasting Power of Attorney or have any questions about the process, please contact us. We are here to help you protect your interests and provide peace of mind for you and your loved ones.