There are several types of Power of Attorney but the most commonly used at the present time are Lasting Powers of Attorney (LPA’s). An LPA gives another individual, such as a family member, (the Attorney) the legal authority to look after specific aspects of your financial affairs or health and welfare should you lose the capacity to do so. It’s not just for the elderly; younger people may become incapacitated through accident or illness.
Common reasons you would need help to manage your affairs by LPA are when you become unwell or become forgetful. Or perhaps you find dealing with your finances too cumbersome or have suffered an accident or illness which prevents you from dealing with your affairs.
If you are in business, have significant wealth, or you are a couple where most of th assets are held in one name only, it is crucial that you consider making a Lasting Power of Attorney.
We can:
- advise you whether you should complete a Lasting Power of Attorney to set up attorneys to deal with your affairs in various circumstances
- advise you whether it is appropriate for you to appoint a family member or other as your Attorney
- advise you whether to give a Property & Financial Affairs Lasting Power of Attorney or Health & Welfare Lasting Power of Attorney or whether you should give both
- advise you on the effect of restricting what your attorney can do for you
- fully complete for you all required forms for your signature
- send your LPA to the Office of the Public Guardian (OPG) court for registration. The OPG offer certain exemptions or remissions on the registration fees payable when registering an LPA. We can assess your circumstances and apply any exemptions or remissions that apply to you.
We also have significant experience in the registration of Enduring Powers of Attorney, the creation of General Powers of Attorney and applications to Court for a Deputy to be appointed when a person is deemed to have lost capacity and does not have a Power of Attorney in place.
We all know that we should write a will, but too few of us know we should also consider a Lasting Power of Attorney. Over the next 60 years the average life expectancy will be 100 years. It is important to make plans for your old age, and choose someone to look after your affairs if you become unable to do so through mental or physical ill health.
By 2025, more than 1 million people in the UK will have dementia, according to the Alzheimer’s Society. One in five people over 85 already suffers from it, with rates significantly higher among women than men. Handling your financial affairs becomes virtually impossible – which is why charities who care for the elderly recommend everyone plans ahead to ease the potential burden on their relatives.
It is important to make a Lasting Power of Attorney in good time. It can be too late to make one if a person has lost “capacity”. The NHS estimates that about 2,000,000 people in UK have lost “capacity” due to dementia, mental health difficulties, brain injuries or other illnesses even in the prime of life. Providing you have “capacity” we will be able to help and advise you regarding making the correct Lasting Power of Attorney to meet your needs.
If you do not have a Lasting Power of Attorney in place and later become mentally incapacitated, relatives may face long delays and expense in applying to the court of protection to get access and take control of your assets and finances.
What happens if you lose capacity and have no Lasting Power of Attorney?
- Sole and joint accounts may be frozen
- No bills are payable from frozen accounts
- There can be problems dealing with selling property
- Decisions on health matters can’t be made by your family
- It can take 5-8 months or longer for someone to get legal authority to manage your affairs.
You can make a Health & Welfare Lasting Power of Attorney, a Property & Financial Affairs Lasting Power of Attorney, or both, to ensure you and your family are protected should you need assistance managing your affairs if you lose capacity in the future. Wills Jacobsen can give you the right advice in order that you can make an informed decision as to the most appropriate course of action for you.
Legal fees are very reasonable and start from £312 inc VAT for a single Lasting Power of Attorney.
LASTING POWERS OF ATTORNEY - where no formal capacity assessment required
LPA Health & Welfare or LPA Property & Financial Affairs
Preparation & registration
Preparation & registration
Preparation & registration
Registration only
Registration only
Registration only
A court fee of £82 per Lasting Power is payable to the Court to register each LastingPower, in addition to the legal fees quoted above.
We will provide you with a total of two free certified copies of your registered Lasting Power of Attorney on completion of registration, if you are signed up to the firm’s storage plan, (see below). If you are not signed up to the firm’s storage plan, or you require more than two certified copies, we can provide them at a cost of £12 inclusive of VAT, per copy made.
LASTING POWERS OF ATTORNEY – where a formal capacity* assessment is required or more than two home visits are required
LPA Health & Welfare or LPA Property & Financial Affairs
Preparation & registration
Preparation & registration
Preparation & registration
A court fee of £82 per Lasting Power is payable to the Court to register each Power, in addition to the legal fees quoted above.
We will provide you with a total of two free certified copies of your registered Lasting Power of Attorney on completion of registration, if you are signed up to the firm’s storage plan, (see below). If you are not signed up to the firm’s storage plan, or you require more than two certified copies, we can provide them at a cost of £12 inclusive of VAT, per copy made.
Please add the following mandatory charges to the above fees
Anti Money Laundering Identity Checks
Per individual
per Company
Optional charges which may apply
Home Visits within 15 miles of the firm's office
Home visits outside 15 miles of the firm's office
Storage of Will and/or LPA - per client
- (Storage must be paid by direct debit in advance annually on or around 1st September each year)
When your charges may be higher
Anything over and above what is deemed as straightforward and normal for your case is charged extra at an hourly rate of £205 plus VAT. Circumstances that may cause your case to be deemed outside of normal and straightforward are shown below. The list is not exhaustive:-
- You require more than two 45 minute meetings about your case
- You require more than 2 home visits
- You include lots of beneficiaries, or make lots of different gifts
- You require multiple copies of your Will(s) and/or Codicil(s)
- It is necessary for us to speak to other legal advisors acting for you
- It is necessary for us to instruct a doctor or other specialist to assess your capacity to make your Will(s) and/or Codicil(s)
- You require us to expedite your documents as you deem your case to be urgent
- You require an out of hours appointment
* A formal capacity assessment means a written assessment undertaken by a legaladvisor of this firm, in the course of dealing with your case, such assessmentbeing in accordance with the Mental Capacity Act 2005 criteria for the two stage(function and time specific) test.