Lasting Power of Attorney

Why do you need a lasting power of attorney?

Most people appreciate that they need a will to ensure that, after their death, their estate goes to their loved ones, however often they don’t think about the possibility that they may be left mentally unable to make decisions, or to deal with their finances, because of a severe illness on an accident.

• With an ageing population this is becoming an increasing problem, and if you don’t have a lasting power of attorney specifying who can look after your affairs then your family will have to make an application to the Court of Protection for a Deputyship Order. Applying to the Court typically takes 18 months and the costs are approximately £8,000 on average, plus annual fees on top. In the meantime, no one can access your bank account or sell your home to pay for your care fees or medical treatment.
• Making a Lasting Power of Attorney (LPA) while you have mental capacity means that you can put into place arrangements to avoid the necessity of an application to court in advance, thereby saving your family a great deal of worry and stress.
• There are two types of LPA, Property & Financial, and Health and Welfare. Making an LPA gives the power to someone you trust, called your Attorney(s) to look after specific aspects of your financial affairs or health and welfare after you lose the capacity to do so (and in the case of the Property & Financial LPA, you can opt to make it useable even when you still have capacity, eg if you’re on a long holiday or in hospital.
• Your Attorney can be anyone you trust as long as they are over 18 and not bankrupt. Marlow Wills can advise on your choice if necessary, and we can also act as your Certificate Provider, confirming that you have capacity. We will take your instructions and complete all of the paperwork for you. This includes the LPA itself, and the Application to Register at the Office of the Public Guardian.
• The Lasting Power of Attorney must be registered before it can be used. This means that if you want to you can save it until a time when it’s needed, however Marlow Wills will register it on your behalf at the Office of the Public Guardian, as it takes several months for the Office to complete the registration process. Once registered, your LPA can be used immediately if there is an emergency, but generally it would remain dormant until you have lost mental capacity.