Why make a Lasting Power of Attorney

Oftentimes, people focus on making a Will to ensure their wishes are carried out after their death but fail to consider the consequences of not making provisions for the management of their assets and welfare during their lifetime, should they become unable to do so themselves due to a loss of mental capacity. At any time in our lives, we may lose the capacity to make decisions for ourselves, leaving our assets tied up and no one with authority to make decisions about our welfare.

What is a Lasting Power of Attorney?

A Lasting Power of Attorney (LPA) is a legal document (a deed) and is governed by the Mental Capacity Act 2005 (MCA), regulations made under it and the MCA Code of Practice. There are two types of LPA; Property & Financial Affairs and Health & Welfare and you can appoint people (attorneys) to act for you in each.

Matters to consider when making LPAs:

• Who should I choose as my attorneys?
• How many attorneys should I appoint?
• What powers will my attorneys have?
• Should I appoint my attorneys jointly or jointly and severally?
• Do I need to notify anyone?
• Should I include any preferences and instructions?
• Who can be my and my attorney’s witness?
• Who can act as a Certificate Provider?
• How do I register them?

It’s important to note, that you must have mental capacity to make LPAs. 

The consequences of losing mental capacity without making LPAs can be very difficult for family members, particularly if there are financial decisions that need to be made on your behalf and they have no authority to act for you. An application to the Court of Protection would be required for someone to be appointed as your Deputy. This is a lengthy and costly process and you will have also lost the ability to choose who you would want to manage your affairs.

Speak to our team about preparing an LPA today

If you wish to make LPAs and discuss the above matters surrounding drafting, executing and registering valid LPAs or someone close to you has lost capacity and did not make LPAs and you wish to discuss your situation with a member of our expert team, please contact us on 0191 2503200 or email probate@browells.co.uk.

All initial 30 minute consultations are free of charge.