Why this is important
Lasting Power of Attorney
It is unfortunate, but everybody has to face up to the possibility that the time may come when they may not have the mental capacity to make decisions about their welfare or their finances. Mental capacity simply means knowing what decision you need to make, why you need to make it and what are the consequences of that decision.
A Lasting Power of Attorney (LPA) means you give somebody you trust the power to make decisions like these on your behalf. It may just be a temporary situation like if you were in hospital and need help with things like paying bills, or it may be more long term or permanent as in a situation where a person gets dementia and is unable to make these decisions at all. You can change your LPA if you are unhappy with anything that is happening provided you have the mental capacity, and you can choose when the LPA comes into effect.
You do not need to be elderly to have an LPA. Whilst looking at the worst scenario, at any age a motor accident could leave you unable to make you own decisions. Without an LPA in this, or any other situation where a person has lost mental capacity, The Court of Protection will make a decision on who will look after your affairs and it may not be the person you would prefer in the role.
In brief, there are two types of LPA, one for financial decisions and one for welfare and care decisions.
The financial LPA enables your attorney to pay bills, buy and sell property, make investments and make other financial decisions which would benefit you.
The Welfare and Care LPA gives your attorney the power to make decisions about where you should live, whether you should take part in social activities, what your diet should be and what medication you should take.
For 1 LPA (Welfare and care or financial) £175. From 1 September this charge will increase to £195 but will include a certified copy of your LPA for each attorney.
For 2 LPAs (Both of the above) £300 From 1 September this charge will increase to £350 but will include a certified copy of your LPAs for each attorney.
These charges do not include Office of Public Guardian registration charges
Should you not have an LPA but the situation arises whereby somebody needs to carry out these duties, it will be necessary to appoint a Deputy under the Court of Protection which will cost £400 for each application