Managing your affairs during your lifetime can become increasingly difficult, so it is wise to nominate someone whom you trust to look after your affairs, in the event that you may not be able to do so.
Lasting Powers of Attorney (LPAs)
LPAs allow you to appoint an individual or individuals to manage your affairs. They remain valid if you become unable to deal with your own affairs by reason of illness or mental incapacity, allowing your appointed individual(s) to ensure that your needs are met.
There are two types of LPA, one that covers your property and financial affairs, and another that covers your health and welfare matters.
The Basics – What will an LPA allow me to do?
Property and Financial Affairs –
allows your Attorneys to manage all aspects of your affairs (subject to any restrictions) such as buying and selling property, accessing bank accounts and paying bills and dealing with pensions or other income sources.
Health and Welfare –
allows your Attorneys to make decisions in respect of your physical needs, such as the type and level of care you receive, consenting to or refusing medical treatment, including life sustaining treatment. Your Attorneys also have the capacity to prevent people from coming to see you in the event that they are not acting in your best interests.
If you have a LPA in place and you become mentally incapacitated, your Attorneys can continue to utilise the LPA to deal with your affairs, providing it has been registered.
If you do not have a Lasting Power of Attorney in place and you lose your mental capacity, your family members will have no option but to make an application to the Court of Protection for a Deputyship Order, to enable them to deal with your affairs. This is a lengthy and very costly process, which can add to the stress and anxiety your loved ones may already be experiencing.
Enduring Powers of Attorney (EPAs)
You may already have an EPA, which is the document that preceded LPAs. Any EPA validly executed prior to 1st October 2007 can still be used. If the Donor of the Power becomes or is becoming mentally incapable of managing their own affairs, it is the legal duty of the Attorneys to register the document with the Office of Public Guardian.
At W Davies we offer a fixed-fee price to prepare and register your LPAs, ensuring that you have a very clear understanding of the costs involved.
Contact us to ask about our wills, trust and probate services
The W Davies Solicitors conveyancing team are experienced in dealing with these matters.
If you have any questions or would like to make an appointment, please contact us on 01483 744900 or complete the contact form opposite.