Sadly, one person in the UK develops dementia every three minutes. Yet relatives cannot walk into a bank and access your money, even to pay for your care. Unless you have a Lasting Power of Attorney (LPA), prepared in advance, your loved ones would need to apply to court to manage your affairs. Such court applications can take up to 18 months and are costly.
What is a Lasting Power of Attorney?
A Lasting Power of Attorney lets you appoint people you trust (known as Attorneys) to help you make decisions or act on your behalf. It provides peace of mind that if something happens to you, your attorney/s can quickly act and speak on your behalf.
There are two types of Lasting Powers of Attorney (LPA):
- Health and Welfare
- Property and Financial Affairs
Health and Welfare LPAs cover decisions about healthcare and personal welfare including where you live, who you see and what social activities you take part in. It can include authorising medical treatment and making end of life decisions. They are used when you no longer have capacity to make your own decisions.
Property and Financial Affairs LPAs can be used as soon as they are registered, even if you still have full capacity. They can be used by your attorneys to support you to buy or sell property, manage your finances, pay bills or speak to your bank/pension/utility provider etc. on your behalf.
Do I need a Lasting Power of Attorney?
We cannot predict the future, nor what our health will be like, but setting up Lasting Powers of Attorney now gives peace of mind that your affairs will be handled by someone you trust!
You decide how much control your attorneys have, and you can revoke an LPA at any time, so long as you are mentally able. Your attorneys must act in your best interests and consult with you in relation to decisions as much as possible.
How much does it cost?
It costs £82 to register each LPA with the Office of Public Guardian (OPG). If setting up both Health and Welfare, and Property and Financial Affairs the court fees will be £164 (exemptions may apply for those on certain means tested benefits).
If using a Solicitor, legal fees also apply.
How long does it take?
Once the LPA is submitted to the OPG, the Government says it can take up to 16 weeks to register. The LPAs will be ready to use as soon as they are registered unless you specify otherwise.
Why should I use D Burke & Co?
We strongly recommend obtaining specialist legal advice when creating a Lasting Power of Attorney. There are various technical formalities that must be adhered to when appointing an attorney and these are easily overlooked.
From the first appointment with us to signing the LPAs usually takes four weeks, plus OPG registration time. The Solicitor will meet with you and carry out a complete review in which many matters are discussed, not just LPAs. This meeting, advice, experience and guidance are included in our prices.
D Burke & Co specialises in Powers of Attorney, Wills, Probate and Property. We discuss your personal situation and help you plan what is best for you.
How can you book an appointment?
To book an appointment or speak to a member of our team, call 0113 252 5597
visit www.burkesolicitors.co.uk.
Or pop in and see us at our office: 9 Kirkstone Terrace, Morley, LS27 9PE.
Diane Burke LL.B, P.G. Dip, TEP
