Lasting Powers of Attorney

Why You Must Consider Putting Lasting Powers of Attorney (LPA) in Place

There are two types of Lasting Power of Attorney - LPA; one covering decisions concerning your Property and Financial Affairs, and one covering decisions regarding your Health and Welfare. Both documents allow you to appoint a person or people (known as your ‘attorneys’) to make decisions on your behalf should you become incapable of making decisions yourself. These not only cover you if you were to develop a degenerative condition such as dementia, but also if you were rendered temporarily incapable through an accident or after a medical procedure.

What does a Lasting Power of Attorney do?

Depending on the powers given to the attorney, their duties may include the following tasks: • Look after bank accounts and financial affairs, including investments. • Decide where you may live. • Pay your care home fees or other expenses • Make decisions about day-to-day care or healthcare. If you do not have LPAs in place and you become incapable of making your own decisions, your family may be faced with having to deal with the more complex, lengthy and costly application for a Court of Protection Deputyship Order. Lasting Powers of Attorney are just as important as your Will when you are looking to ensure your affairs are in order. Not having them in place can result in additional stress and financial difficulty for your loved ones at what will likely already be a trying time for them. If you do not have one and you become mentally incapable of managing your affairs your family will need to apply for a Court of Protection Deputyship Order. This will take approximately 12-18 months to be granted and will cost at least £1,500 in court and legal fees. During the application process while your family wait for the Court of Protection order nobody will be able to make payments on your behalf for your care fees or other expenses. Appointment of a Deputy is subject to the court’s discretion, and they may deem that your family are not suitable to manage your finances, or to make decisions on your behalf. This will then mean that a Panel Deputy (i.e. a Court of Protection specialist solicitor) will be making decisions on your behalf, and charging you estate for that work accordingly. Lasting Power of Attorney LPA is effective once signed and witnessed and registered with the Office of the Public Guardian. You can appoint who you like as your attorney, you can include instructions or preferences regarding how your affairs will be managed, and your attorneys will not have to provide annual reports to the Court of Protection, or pay an annual administrative fee. If you lose your mental capacity, your family will already be dealing with enough without having to also find the time and funds for a lengthy court application (they cannot access your funds until the Court Order is granted). We offer a personal, friendly and sympathetic approach, to assist you in planning and managing your affairs most effectively in a wide range of situations. If you need any advice in relation to any will, estate planning or bereavement matter then please contact Leeds Day on 0844 567 2222 or email wills@leedsday.co.uk.

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