What is Lasting Power of Attorney?
A lasting power of attorney (LPA) is an important legal document. It allows individuals to choose people as their attorneys. These people will look after them when he/she loses mental capacity. There are 2 types of Lasting Power of Attorney:
- LPA for Health & Social Welfare
- LPA for Property & Financial Affairs
An LPA is registered with the government office called, Office of the Public Guardian. If you do not register the LPA, they do not have any legal value.
The Office of the Public Guardian has replaced the Enduring Power of Attorney in October 2007 with Lasting Power of Attorney. Enduring Power of Attorney was only for Financial Affairs. An EPA created and registered with Office of the Public Guardian is still valid and you only need to create LPA for Health & Welfare.
What if you have not setup the LPA?
You can only create an LPA while you have the mental capacity. In a case where you have not created the LPA and lose the mental capacity, then your family members must apply to the Court of Protection to get the authority to legally manage your affairs. This is a more complicated process, expensive as compare to creating the LPA and most important, time taking.
It may be possible that the Court may not grant the family members the authority to manage your affairs and choose a professional person or a body to look after you. In this case, the cost will be recovered from your resources for performing such duties.
How much it Cost to create an LPA?
From 31st March 2017, the government has reduced the registration to £82/- per LPA. When you are creating the both, it may be £164/-. It was £110/- before 31st March 2017. You may receive 50% discount or full exemption in the registration fee depending upon your financial circumstances.
Creating an LPA could be a complex for few peoples. You may apply directly to OPG, or use help from a solicitor or any other company who offer assistance in creating the lasting power of attorney.
Usually, a solicitor roughly charges from around £500 to £1000. The third option is online companies who offer similar service but at a cheaper price. For example, LPA Services charges from £99.99to £180/- for their services.
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