Why making an LPA should be as important as making a Will!

So, what is a Lasting Power of Attorney and what does it do? 

A Lasting Power of Attorney (or LPA) is a legal document where someone (while they still have mental capacity) nominates a relative or trusted friend to look after their affairs if they lost capacity.

There are two types of Lasting Power of Attorney: one for Finances and Property and one for Health and Welfare, which must be applied for, and registered with, the Office of the Public Guardian (OPG).  

You can choose to have the same person(s) for both, or choose separate representatives. 

It’s important to note, you do not suddenly give up control once you have set up an LPA. You can choose whether it can be used either before, or only when, you lose mental capacity.

For example, let’s say you have an accident and are in a coma. If a decision needs to be made whilst you are in this comatose state, your representative will make decisions. If you wake, with capacity, you can then make decisions again.

Why it is so much harder if you DON’T have an LPA!

In contrast, people who don’t have an LPA and lose capacity are left having to rely on a ‘deputy’ (often a family member, friend or professional such as a lawyer), who must apply to and be approved by the Court of Protection. This gives them similar powers to that of an attorney.

Whereas you can choose who to appoint as an attorney when you make an LPA, deciding on a deputy is a matter for the court.

If you don’t have an attorney in place and later become unable to make certain decisions for yourself, there may be a time when no one can legally make decisions for you. This can make things such as paying bills, care costs, or making decisions about your future care, difficult.

The process in incredibly time consuming.

There’s a lot of paperwork to fill in for the Court of Protection. A capacity assessment must be carried out and a form completed by your doctor. Then the deputy must record all the details of your individual circumstances including any income, assets and liabilities.

The application process can now be done online, but it can still take several months and may require a court hearing if anyone objects to who you have chosen.

It is more expensive.

The process of becoming a deputy is a lot more time-consuming and expensive than setting up a LPA. Deputies must pay a £408 fee just to apply. In addition, there is an annual supervision fee for every year they’re in the role. It is usual for a professional to assist with the application, which will also incur an additional cost.

A deputy must also do some things on an ongoing basis, such as submitting an annual report. 

Don’t wait. Make a Lasting Power of Attorney, now! 

While many people decide to make a Will in mid-life, or after significant events, such as having children or buying property. LPAs typically still aren’t considered until much further down the line. They absolutely should be a priority. 

Caring for a loved one who has lost capacity is tough enough without the added stress due to the absence of an LPA. 

Making an LPA is crucial and as important as making a Will. An LPA ensures you can reduce that burden, but also that you appoint a trusted attorney to make important decisions for you, rather than leaving it in the hands of the court and potentially a deputy you may not have personally chosen. 

Setting up a Lasting Power of Attorney ensures that whatever happens in the future, you get the peace of mind that comes from knowing your attorney is able to support you and make the best legal choices for you.

At MT Legal Services, we offer expert advice and professional guidance regarding the different levels of powers of attorney that can be beneficial to you at a later stage. Contact us to book your Free Consultation, today!