A power of attorney is a legal document that allows someone to make decisions for you, or act on your behalf, if you’re no longer able to or if you no longer want to make your own decisions.
here are two types of LPA:
- LPA for financial decisions
- LPA for health and care decisions.
LPA for financial decisions
An LPA for financial decisions can be used while you still have mental capacity or you can state that you only want it to come into force if you lose capacity.
An LPA for financial decisions can cover things such as:
- buying and selling property
- paying the mortgage
- investing money
- paying bills
- arranging repairs to property.
You can restrict the types of decisions your attorney can make, or let them make all decisions on your behalf.
If you’re setting up an LPA for financial decisions, your attorney must keep accounts and make sure their money is kept separate from yours. You can ask for regular details of how much is spent and how much money you have. These details can be sent to your solicitor or a family member if you lose mental capacity. This offers an extra layer of protection.
LPA for health and care decisions
This covers health and care decisions and can only be used once you have lost mental capacity. An attorney can generally make decisions about things such as:
- where you should live
- your medical care
- what you should eat
- who you should have contact with
- what kind of social activities you should take part in.
You can also give special permission for your attorney to make decisions about life-saving treatment.
The cost of us making a Lasting Power of Attorney is dependent on what type of Lasting Power of Attorney you choose to make.
If you were to make a single Lasting Power of Attorney for one person, then the cost would be £290 plus VAT plus the court fee of £82.
If you wanted to make both types of Lasting Power of Attorney (for example, Property & Affairs and Health & Welfare) the cost would be £550 plus VAT plus two court fees (£164).
If you and your spouse wanted to make both types of Lasting Power of Attorney, i.e. Property & Affairs and Health & Welfare for each of you, making a total of 4 Lasting Power of Attorneys, then the cost would be £1,000 plus VAT plus four court fees (£328).
The important thing to bear in mind with the cost of a Power of Attorney is that if you instruct ourselves to make the Lasting Power of Attorneys for you, then we do pretty much everything from taking initial instructions, drafting all the paperwork, acting as Certificate Providers and witnesses, dealing with all the registration requirements and any other issues that crop up.
From your perspective, all you need do is answer a few questions and then we do the rest and at the end of it, you will then get your Lasting Power of Attorney. Yes there is a cost but at least you can avoid the hassle, stress and challenges that go with having to do everything that needs to be done to set up a valid Lasting Power of Attorney.
No Obligation Chat About The Cost Of A Power Of Attorney
If you are interested in finding out more about the cost of a Power of Attorney then please give us a call for a free, no obligation chat. Distance is not a problem. We act for people right across the United Kingdom.
Granting a lasting power of attorney (LPA) is an invaluable means by which you can ensure that your affairs will be managed by someone you trust in the event that you lose the ability to look after yourself.
As a Court of Protection case showed, however, it often makes good sense to appoint an independent professional, rather than a family member, to perform such a vitally important role.
The case concerned an elderly woman whose son had been convicted of defrauding her and other family members. He was sentenced to 45 months’ imprisonment and, following a subsequent confiscation hearing under the Proceeds of Crime Act 2002, he was ordered to repay over £460,000 to his victims.
Just a few days after that order was made, however, the woman signed LPAs in his favour, conferring on him complete authority over the management of her property, finances, health and welfare.
The Public Guardian’s response to that turn of events was to launch proceedings seeking revocation of the LPAs on grounds that she lacked the mental capacity required to make them.
Ruling on the matter, the Court noted that she had been diagnosed with moderate dementia several years before the LPAs were executed and had since been the subject of a number of independent capacity assessments. Six weeks before she signed the LPAs, a social worker reported that she seemed uncertain about where she lived and was unable to recall the names of some of her children. She asked the social worker herself whether she was one of her daughters.
Upholding the Public Guardian’s application, the Court noted the woman’s belief that her son was innocent and her continued love and support for him. She had, however, conferred wide-ranging powers on someone who had in the past defrauded her.
The Court ruled on the balance of probabilities that she did not have the mental capacity to grant the LPAs and that they were therefore invalid from the outset.
A professional deputy was appointed to take over management of her property and affairs.