Our Lasting Power of Attorney Solicitors in Lancaster Discuss the Critical Benefits of Lasting Powers of Attorney
Posted on 13th December 2023
Life is unpredictable, and planning for the future is crucial. Whilst it can seem overwhelming, making sure you have the correct legal documents in place before you need them, can save you and your loved ones the stress of rushing to make these when the time is too late.
One of the most important, yet often overlooked, elements of planning for your future is creating Lasting Powers of Attorney. In this blog, our Lasting Power of Attorney Solicitors in Lancaster explore the benefits of making Lasting Powers of Attorney, which can ensure that your affairs are managed according to your wishes, even if you become unable to make decisions yourself.
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What is a Lasting Power of Attorney?
A Lasting Power of Attorney can take two forms, but overall the term is used to describe documents in which the Donor (the person making the document) gives authority to Attorneys (the people appointed by the Donor) to make decisions on their behalf, if they lack capacity to do this themselves. Broken down further, there are two types of Lasting Powers of Attorney: one for health decisions and the other for financial decisions. It is not always necessary to make both, and some people make the decision to only make one or the other, but the most common scenario our Lasting Power of Attorney Solicitors in Lancaster come across is when people decide to make both Lasting Powers of Attorney as they update their Will.
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Benefits of Making Lasting Powers of Attorney
Control Over Future Decisions
Lasting Powers of Attorney allow you to choose who will make decisions on your behalf, ensuring they are made in line with your preferences and values. They give you the opportunity to appoint people you really trust, and ensure that these people are aware of your preferences and instructions in respect of your finances or health decisions.
Protection During Unexpected Situations
The most common reason people believe they need a Lasting Power of Attorney is because they have been diagnosed with a medical condition that will impact their capacity. However, our Lasting Power of Attorney Solicitors in Lancaster frequently come across situations where Lasting Powers of Attorney have been required due to temporary incapacity, such as one-off accidents where people have been put into medically-induced comas. Whatever the reason is that the Lasting Power of Attorney is required, in our Lasting Power of Attorney Solicitors in Lancaster’s experience, the situation is always less stressful for those involved if the necessary legal documents are already in place.
Avoiding Legal Complications
Sadly, there is a common misconception that certain people are your automatic ‘next of kin’ and can make decisions without any legal paperwork. This is not the case. Without a Lasting Power of Attorney your loved ones may face lengthy and costly legal processes to get authority over your affairs.
Our Lasting Power of Attorney Solicitors in Lancaster have even acted for spouses who, with no legal authority, have been required to apply to the Court to act on behalf of their incapacitated spouse; the process often takes 6 to 12 months, and costs in the region of £1,500 to £2,000 (plus VAT), compared to £450 (plus VAT) for making two Lasting Powers of Attorney.
Reducing Family Burdens
Not knowing how to help a loved one and not having the authority to do so can be an incredibly stressful time in someone’s life. Lasting Powers of Attorney help you make your wishes clear, and allow you to give someone legal authority to act on your behalf. This can help make the situation better for your loved ones, reducing stress and the uncertainty of what they need to do.
Flexibility
Lasting Powers of Attorney are not simply rigid documents; they can be tailored to your specific needs and preferences, offering flexibility in how your affairs are managed, and allowing you to ensure your preferences, feelings, and wishes are clear.
Lasting Power of Attorney fixed-fees
30 minute appointment to discuss your requirements for your LPA and to ascertain capacity
Preparation of the LPA
Attendance upon you to go through and complete your LPA, including giving any advice required
Sending the document to your Attorney(s) for signature
Sending the document to the Office of the Public Guardian for registration
Arranging for collection of the original LPA following registration
One LPA £300.00 + VAT plus Registration fee - £82.00* Both LPAs £450.00 + VAT plus Registration fees - £164.00* Four LPAs £750.00 + VAT plus Registration fees - £328.00* *Unless you qualify for a fee remission or exemption
The Process of Creating Lasting Powers of Attorney
Our Lasting Power of Attorney Solicitors in Lancaster would firstly have an appointment with you to discuss your wishes, needs, and preferences.
Following the appointment, our team will prepare initial paperwork, confirming your instructions and setting out the next steps. Once you have signed and returned a copy to confirm you wish to proceed, our Lasting Power of Attorney Solicitors in Lancaster will prepare your Lasting Powers of Attorney, and thereafter arrange an appointment for you to sign the final versions.
The Lasting Powers of Attorney require someone to act as your Certificate Provider, verifying that you understood the documents and have the capacity to make them. Our Lasting Power of Attorney Solicitors in Lancaster can act in this role on your behalf, making the process of making Lasting Powers of Attorney seamless.
Once signed by you, your attorneys will need to sign the documents. We often hear that clients are considering not appointing a loved one, due to the fact they live far away. Our Lasting Power of Attorney Solicitors in Lancaster have prepared Lasting Powers of Attorney which appoint Attorneys all over the World, with recent examples covering Australia, China, and the USA, amongst other examples. There is nothing stopping you from appointing your loved one- no matter where they live- as long as we can write to them. It may just take slightly longer to get the documents fully signed.
When the Lasting Powers of Attorney are signed in the correct places, our Lasting Power of Attorney Solicitors in Lancaster submit them to the Office of the Public Guardian- the government organisation which oversees and registers Lasting Powers of Attorney. The Office of the Public Guardian will register the Lasting Powers of Attorney, sending the registered documents back to our Lasting Power of Attorney Solicitors in Lancaster on completion. At this stage, we can arrange to provide you with the original documents, to be stored safely by you until required.
How do I choose who to appoint as my attorneys?
It can be difficult to know who to appoint as your attorneys, especially if you are not close with relatives or do not trust them sufficiently to act on your behalf. Whoever you chose, they should be people who you know will carry out your wishes, as far as possible, and will look after your best interests. Your Attorneys will be acting on your behalf, as if they are you, should you lack capacity to make decisions yourself, so they should be people who you know will do a good job of this.
If you do not feel you have someone who you would be willing to appoint in this role, you can always consider a professional attorney, such as our Lasting Power of Attorney Solicitors in Lancaster, or a suitably qualified accountant or other professional. Whilst professionals do charge for the service, many people feel more secure in the knowledge that someone with the relevant legal skills is in charge of their finances, when they can no longer make these decisions themselves.
Common Misconceptions about Lasting Powers of Attorney
A common belief that people have is that by making Lasting Powers of Attorney they will lose control over their own affairs. Fortunately, this is not the case. Whilst you retain capacity, you should always be left to make decisions by yourself, with your attorneys only assisting as and when you direct them to. Should the situation arise where you feel your attorneys are overstepping, do not worry; you can fully or partially revoke Lasting Powers of Attorney, as long as you have capacity to do so. The document is available for free on gov.uk or such revocation can be prepared by our Lasting Power of Attorney Solicitors in Lancaster for a small fee.
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A Lasting Power of Attorney is an essential tool in future planning. It’s not just for the elderly or those with health concerns; anyone can find themselves in a situation where they cannot make decisions without help. By setting up Lasting Powers of Attorney, you’re not just planning for your future; you’re also providing clarity and guidance for your loved ones.
If you wish to discuss making Lasting Powers of Attorney, contact our Lasting Power of Attorney Solicitors in Lancaster on 01524 581 306 or complete the contact us form below and our team will be in touch within one working hour to discuss your enquiry.
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