Have you thought about who would manage your money, property, collect your benefits and pay your bills if you were unable to do so?
If you do not have appropriate arrangements in place and lose mental capacity to make decisions for yourself, your family will not have access to your finances or to make decisions on your behalf, without obtaining a court order from the Court of Protection.
Applying for a court order can take up to eight months and your family would not have access to your finances in this time, which is where Lasting Power of Attorney comes in.
There are two forms of Lasting Power of Attorney – heath and welfare and property and financial affairs. You can choose to have one or both types, however it must be registered with the Office of the Public Guardian by either you or a solicitor before it can be used.
You can nominate somebody else you trust to be notified before the Lasting Power of Attorney is registered so they have the opportunity of raising any concerns.
At FMT, we can help you through the process of getting a Lasting Power of Attorney in place. From choosing your Appointee to the registration stages, we seek to make this process seamless.
You can appoint more than one person to make decisions on your behalf. Also, nominating someone if for any reason your chosen attorney is prevented from acting on your behalf, in the following circumstances:
Our fees for Lasting Powers of Attorney (LPAs) are as follows: –
*Please note that there is an additional fee of £100.00 plus VAT per home visit, if required
While it is not a legal requirement to use a solicitor, we would always recommend seeking legal advice to make sure the process is completed accurately to ensure validity.
Property and Financial Affairs LPA: This allows the attorney to make decisions about the donor’s finances, property, and assets.
Health and Welfare LPA: This grants the attorney authority to make decisions about the donor’s healthcare, living arrangements, and other personal matters.
