What are Lasting Powers of Attorney? (Applies to England and Wales only.)
A Lasting Power of Attorney enables you to decide, in advance, whom you would like to manage your finances (a Property and Affairs LPA) and your personal health and welfare affairs. The Health and Welfare LPA includes where you live, as well as who should look after your children should you lose the ability to do so. The people you appoint become your Attorneys. Why not Contact Us with any questions!
What Happens If I Don’t Have Lasting Powers Of Attorney?
If you have an accident, stroke or other sudden disability and don’t have a Lasting Power of Attorney, your family will be powerless. Someone will have to apply to the Court of Protection to be appointed as your “Deputy” to manage your affairs. Very often, it is Social Services who do so and charge for the time and the ongoing service as they will now have total access to your funds.
If you have a quarrelsome family who each appoint lawyers to fight for control, then the bill will be multiplied – and all taken from your assets! That is likely to take at least 6 months and could cost many thousands. Until the Deputyship order is granted by the Court, joint bank accounts and anything in your name will be inaccessible to those trying to help you.
The Deputy will be under the supervision of the Court through the Office of the Public Guardian. This is clearly much more expensive and less satisfactory than choosing you own family attorneys in advance. If you are unlucky, you may be paying for a solicitor to manage your life for you at great cost.
There are two sorts of Lasting Powers of Attorney:
1)Powers of Attorney Property and Affairs – essentially dealing with Financial matters.
2) Lasting Power of Attorney Health and Welfare – medical and welfare matters – such as where you live.
So how do I get a Lasting Power of Attorney?
Call us! We don’t claim to be the cheapest (though we are very reasonable) but we were learning about LPAs before they even came into force, and we haven’t stopped learning since.
For some reason, many also seem not to appreciate the importance of the Lasting Power of Attorney Health and Welfare. Very, very few carry out regular training and updating on Lasting Power of Attorney. Once again, solicitors who specialise in this area can be absolutely superb.
- We offer fixed fees and make it as simple as possible to organise your Lasting Power of Attorney.
- We really do care about making sure you do the best job you possibly can for your family and business. Yes, without sound Legal Planning, a business can crash and die.
- We offer an ongoing service to help you ensure your Lasting Power of Attorney stays up to date and relevant as personal circumstance (yours and the family) change. As taxes change and as the Law changes. Does any other adviser offer that?
- We do NOT push ourselves on you as Attorneys.
- We are fully Regulated by the Society of Will Writers and Estate Planning Practitioners and have full professional indemnity insurance for £2,500,000.
Why not call us on 0800 298 5208 – or 01323 741200.
Or email us here