![\"Lasting](\"https:\/\/bandlsols.co.uk\/wp-content\/uploads\/2024\/01\/lasting-powers-of-attorney-featured-image-800x400-1.jpg\" "\\"lasting-powers-of-attorney-featured-image-800×400\\"")
<\/span><\/div>A lasting power of attorney shouldn\u2019t just be for older people. They deliver significant benefits for people of all ages. Let\u2019s find out more.<\/h4>\n
When you appoint someone you trust as a lasting power of attorney (LPA), you give them the authority to make important decisions – including financial and medical – on your behalf, if you\u2019re not able to. Traditionally, it was older people who would appoint an LPA as they\u2019re more likely to become ill or see their mental capacity diminished. However, more people of all ages are discovering the benefits of having an LPA:
\nPeace of mind that your wishes will be carried out even if you can\u2019t make the decision yourself
\nRelieving the stress on your loved ones at a difficult time
\nPotentially saving money on legal fees<\/p>\n
In this article, we\u2019ll look at LPAs in more detail. We\u2019ll examine the types available, how to get one and why you should always appoint an LPA in partnership with a solicitor. Let\u2019s get started.<\/p>\n
Types of lasting power of attorney<\/h4>\n
There are two types of lasting power of attorney:
\nHealth and welfare – Your trusted person is authorised to make medical decisions on your behalf if you\u2019re not able to, such as if you lose mental capacity
\nFinancial – Your appointed LPA can take decisions related to your finances and assets<\/p>\n
Ideally, you\u2019ll have people to cover both areas. You can appoint more than one LPA and choose to limit the scope of their decisions.<\/p>\n
It\u2019s also important to note that a lasting power of attorney is indefinite. You can authorise someone to take decisions on your behalf temporarily through what\u2019s called an ordinary power of attorney. This is a popular course of action for people living abroad, for example.<\/p>\n
Whatever your age, you should consider appointing an LPA while you\u2019re still healthy and mentally capable. After all, you never know what\u2019s around the corner.<\/p>\n
How to get an LPA<\/h4>\n
To get an LPA, you must register your wishes with the Office of the Public Guardian (OPG). Download the forms from the government website, complete them and send them back with the \u00a382 fee (per type of LPA). The OPG aims to process applications within eight weeks, although in reality, it\u2019s often much longer.<\/p>\n
However, it\u2019s essential to understand that these forms are not simple to complete and often get returned unactioned due to seemingly minor errors. You need to complete the forms in the correct order, including a signature from a \u2018certificate provider\u2019 who is a professional (e.g. a doctor or lawyer) and has known you for longer than two years. The person you appoint also has to sign – and everything needs to be witnessed. It\u2019s no surprise that most people choose to get their solicitor to arrange their lasting power of attorney.<\/p>\n
Once the LPA is in place, you should store it somewhere safe until needed. It\u2019s good practice to create a fact file where you write down your wishes regarding your health and finances if your mental capacity deteriorates. That way, your appointed LPA doesn\u2019t have to guess and can act on your behalf with confidence.<\/p>\n
Why you need a solicitor<\/h4>\n
As illustrated above, appointing an LPA can be quite a complex procedure, and if you get it wrong, you\u2019re back to square one. This is why smart people opt to use a solicitor rather than do it themselves.<\/p>\n
A solicitor works on LPAs regularly. They know how to be successful with the application quickly and efficiently. They understand the potential pitfalls and how to navigate around them. Sometimes, appointing an LPA can have implications around inheritance tax and gifting, but your solicitor has the knowledge and experience to ensure you cover all your bases.<\/p>\n
So, don\u2019t wait for the worst to happen. Talk to your solicitor about designating a lasting power of attorney today. To arrange an appointment call us on 020 8288 3522 or click here<\/a> to email us.<\/p>\n<\/div><\/div><\/div><\/div><\/div> The articles published on the website are intended to be for general information purposes only. These articles do not constitute legal advice, nor should they be used as a complete or authoritative statement of the law in England and Wales and should not be treated as such. Whilst every effort is made to ensure that the information is correct, no warranty, either express or implied, is given as to their accuracy, and no liability is accepted for any errors or omissions. Before acting on any of the information contained in any of these articles, expert advice should be sought.<\/p>\n<\/div> Sign up with your email address to receive news and updates. <\/p> Legal disclaimer<\/h4>\n
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