Did you know that your partner or next of kin is not automatically able to make decisions for you when you can’t make them anymore?
Not being able to make decisions is called “losing capacity”. Should this happen – through an illness such as dementia, or an accident – no one would be able to legally make decisions for you unless you had appointed them in a Lasting Power of Attorney.
Without an LPA, someone not of your choice will take control of your affairs. This could be someone you do not trust or like, or have never met before. It could even be the local authority.
They would be appointed by the Court of Protection which costs thousands of pounds, in addition to any management fee a local authority would charge your estate.
The good news is that this can be avoided by simply creating a Lasting Power of Attorney which will guarantee your affairs are managed by someone you know and trust.
What is a Lasting Power of Attorney?
A lasting power of attorney is a legal document in which you appoint an “attorney” to make important health and financial decisions on your behalf if you loose capacity to do this yourself.
It must be prepared when you are of sound mind and you must also make sure it is registered before it can be used.
So, what are you waiting for? Prepare your LPAs with Prime Wills today and take control over who will make your decisions for you should the worst happen.
An LPA will:
Enable you to have control over who will act on your behalf. Don’t let someone you don’t trust control your health and financial affairs.
Make your wishes clear. We encourage you to discuss your preferences for your finances, healthcare and welfare with your attorneys.
Save you money – and bother – in the long term. You family will have to fork out to make a Deputyship application, which can cost thousands of pounds and which must be renewed annually if there is no LPA in place.
Types of LPA
Property & Financial Affairs LPA
£350
This allows your attorney to act on your behalf if you are finding things difficult to manage on your own, or if you lose mental capacity. For example, they can manage your investments, pay any bills, make benefit applications or buy or sell property on your behalf.
Health & Welfare
LPA
£350
This allows your attorney to make decisions on your health and general wellbeing; for example, on medical treatment including life sustaining treatment, where you will live, your daily activities or your diet.
LPAs must be registered with the Office of the Public Guardian (OPG) before your attorney can act on your behalf. The OPG charges a registration fee of £82 per document, payable directly at the time of registration. While LPAs can be registered at any time, it is our strong advice that you register them immediately.
It is never too early to ensure your affairs are managed by someone you know and trust.
Illness and accidents can happen at any stage of life; so don’t wait to protect yourself while you’re still able to.
1 in 3
One in three people born in the UK today will develop dementia in their lifetime Source: Alzheimer’s society
5 min
Every 5 minutes, someone in the UK suffers a stroke Source: Brain Research UK
Brain Injury
Traumatic Brain Injuries happen all the time and can have devastating and lifelong effects Source: Headway
Frequently asked questions
What happens without an LPA?
Lasting Power of Attorney gives you control over what happens to you and your affairs during your lifetime. Without one, there is no guarantee that your wishes will be followed should you lose the ability to make decisions for yourself.
The Court of Protection will appoint someone called a Deputy on your behalf. Imagine someone you do not know operating your bank accounts and investments or deciding where you live and at the same time charging you a fee without you knowing.
What’s more, family members could end up fighting over what’s best for you, and may be burdened with legal complications, delays and additional costs at what is already a difficult time.
Could I lose control of my affairs if I sign an LPA?
An LPA does not restrict your rights to look after your own affairs for so long as you are capable. The Lasting Power of Attorney simply means that there is someone to take over if, and when, you lose mental capacity to make your own decisions.
Do I have to register my Lasting Power Of Attorney?
Your Attorney cannot act on your behalf until the Lasting Power of Attorney has been registered with the Office of the Public Guardian. Your Lasting Power of Attorney can be registered at any time, however in order to be prepared in advance, most people register it straight away. Prime Wills can assist you with the registration process.
Do I have to have both types of LPA?
No, you can have both or either depending on your circumstances. If you are unsure whether you should consider arranging either a Property & Financial Affairs LPA or a Personal Welfare LPA (or both) you can speak to one of our advisors.
How do I choose my Attorney?
When deciding who should be your Attorney it is very important that you choose someone you trust. Your Prime Wills Legal Consultant will give you expert advice on how to structure your Lasting Power of Attorney to suit your specific needs.
