Why make a Lasting Power of Attorney?
A Lasting Power of Attorney (LPA) enables you to choose one or more people to make decisions and manage your affairs during your lifetime if you become unable to manage your own affairs due to mental incapacity. There are two separate LPAs. One relates to your property and financial affairs and the other relates to your personal welfare.
If you do not make an LPA and you lose mental capacity, the Court of Protection can appoint people to manage your affairs but you will not be able to choose who those people are. The procedure can also be costly and take a considerable length of time.
If you made an Enduring Power of Attorney (EPA) prior to 1st October 2007, this will remain valid but it only enables your attorney(s) to deal with your financial affairs. Your attorney(s) will not have authority to make decisions relating to your health and welfare.
Property and Financial Affairs LPA
Your attorney(s) will be able to make decisions and deal with matters including operating your bank accounts, claiming benefits on your behalf, dealing with your tax affairs and selling your house or other assets.
Your attorney(s) can act for you, with your agreement, whilst you are mentally capable of managing your affairs which can be useful if you are physically incapacitated or abroad for an extended period. They will also be able to make decisions and act for you if you lose mental capacity in the future.
Health and Welfare LPA
Your attorney(s) will be able to make decisions about your personal welfare including your living arrangements and care, your diet and the type of activities you take part in, and consenting to or refusing medical treatment including life sustaining treatment. Your attorney(s) will only be able to make decisions on your behalf if you have lost capacity to make decisions for yourself.
Both types of LPA must be registered with the Office of the Public Guardian (OPG) before they can be used by your attorney.
It is very important to make sure when drafting Lasting Powers of Attorney that all provisions incorporated into the documents will be legally enforceable. The OPG has the power to strike out offending provisions during the registration process and we always therefore recommend you seek legal advice before drafting such documents.
How we can help
We can advise you about making LPAs, prepare the documents for you and deal with registration. If you wish to appoint a professional attorney in relation to your property and financial affairs, a Partner of this firm can be appointed.
We can also assist attorneys with registration of EPAs.
COST OF LASTING POWERS OF ATTORNEY
Our service includes attending upon the Donor (person appointing Attorneys) to take initial instructions and to provide all relevant advice. Drawing and submitting draft documentation for approval. Preparing documentation for signature and attending you thereon to sign the same. Correspondence and telephone attendances upon you. Correspondence upon your Certificate Provider and Attorneys to arrange for their signature to the documentation. Lodging documents with Office of Public Guardian for registration. Upon receipt of registered Lasting Power of Attorney providing you with a copy.
Upon completion we recommend the original document is stored in our archives for safe keeping on your behalf at no additional cost to you.
|1 x Lasting Power of Attorney||£575.00 – £675.00 plus VAT plus Court Fee of £82.00|
|2 x Lasting Power of Attorney||£775.00 – £1,100 plus VAT plus Court Fee of £82.00 per document|
|4 x Lasting Power of Attorney||£1,400 – £1,700 plus VAT plus Court Fee of £82.00 per document|
|Providing certified copies of Lasting Power of Attorney||£40.00 plus VAT per document|
Standard documents and those whereby up to a maximum of 2 Attorneys are appointed will be at the lower end of the price scale whereas those appointing additional Attorneys and/or incorporating complex additional instructions and powers will be at the higher end of the price scale. You will be advised at initial meeting of exact cost.
- a single person decides to execute a Lasting Power of Attorney, for Property and Financial Decisions and a Lasting Power of Attorney, for Health and Welfare decisions appointing two individuals as Attorneys with no specialised instructions – cost will be £775.00 plus VAT £155.00 plus x 2 Court fees £164.00 = £1,094.00
- a couple decide to each execute a Lasting Power of Attorney, for Property and Financial Decisions appointing two attorneys and no specialised instructions – cost will be £775.00 plus VAT £155.00 plus 2 x Court fees £164.00 – £1094.00
- a couple decide to each execute a Lasting Power of Attorney, for Property and Financial Decisions in favour of 4 Attorneys with 2 named replacement Attorneys and incorporating complex financial instructions to Attorneys – cost will be £1,100.00 plus VAT £220.00 plus 2 x Court fees £164.00 = £1,484.00
- a couple decide to each execute a Lasting Power of Attorney, for Property and Financial Affairs and a Lasting Power of Attorney, for Health and Welfare decisions in favour of 2 Attorneys, with specialised provisions – cost will be £1,700 plus VAT £340.00 plus 4 x Court fees £328.00 = £2,368.00
Please note the cost information given here is general and you will be given more precise and personalised information at your initial meeting.
We reserve the right to charge additional fees, on a time spent basis, if documentation needs to be redone because of signature errors by Certificate Providers or Attorneys.