What is a Lasting Power of Attorney and Why Do You Need One?
An LPA is a legal document that lets you appoint a trusted person to make decisions on your behalf if you become unable to do so due to illness, an accident, or age. Think of it as a safety net, ensuring your wishes are respected, and your loved ones are not burdened with difficult choices during a challenging time. While LPAs are not mandatory, they offer significant benefits. The registration process can take up to 20 weeks, so planning is crucial.
Here are some real-life scenarios where an LPA proves invaluable:
Accident or illness: If you're in an accident or experience a sudden illness, your LPA can manage your finances, property, and healthcare decisions as per your outlined wishes.
Age-related decline: As you age, your mental capacity may decline. An LPA ensures your attorney can step in and manage your affairs seamlessly.
Many people assume that their spouse or civil partner will automatically have the authority to make decisions on their behalf if they become incapacitated. However, without a Lasting Power of Attorney, your spouse or civil partner may not have the legal right to manage your finances, property, or healthcare decisions. If your finances are already jointly managed, an LPA for property and financial affairs might not be necessary. However, an LPA can be beneficial for adding a non-joint family member as an attorney for more personalised decision-making.
Benefits of Having an LPA
The benefits of establishing an LPA extend beyond legalities. Emotionally, it provides peace of mind, knowing that your wishes will be respected even if you're unable to express them yourself. Practically, it offers legal protection and minimises the risk of family disputes by outlining clear directions for decision-making. An LPA will ensure your wishes are respected while you're alive. For post-life planning, consider creating a Will to ensure your assets are distributed according to your wishes. Company Select can guide you through both the LPA and Will creation process.
Key benefits of an LPA include:
Peace of mind: Knowing your future is secure and your loved ones can manage your affairs smoothly brings immense peace of mind.
Reduced stress: Your loved ones won't have to navigate complex legal and financial decisions during a stressful time.
Protects your assets: An LPA ensures your assets are managed according to your wishes.
Don't wait to secure your future. Contact us today!
Company Select (UK) Limited: Your Trusted LPA Experts
We go beyond simply creating the LPA. Our role includes verifying your identity to ensure everything is above board and acting as your Certificate Provider. This ensures the LPA meets legal requirements and your wishes are understood.
What sets Company Select apart?
A Personalised Service
Competitive Pricing
Expertise in Complex Cases
A personalised service: We believe in clear communication and support every step of the way. Our friendly team is available to answer your questions and guide you through the entire LPA process. In-home consultations are available for your convenience, ensuring a comfortable and stress-free experience.
Competitive Pricing: We offer our LPA services at competitive rates, ensuring affordability for everyone. You'll receive a clear fee structure upfront, with no hidden costs.
Expertise in Complex Cases: Our team has extensive experience handling even the most intricate LPA situations. We've successfully resolved cases where previous LPAs were not completed correctly, saving you valuable time and frustration.
Our LPAs are drafted by Yiasmin (pictured), a certified Company Legal and Professional Secretary, ensuring the highest level of accuracy and compliance. This provides extra assurance for you, knowing your LPA will be completed meticulously.
Take control of your future. Contact us for a free LPA consultation.
Frequently Asked Questions About LPA
We've compiled answers to some of the most common questions we get about the LPA and the process:
What happens if I don't have an LPA?
If you don't have an LPA and lose mental capacity, your loved ones would need to apply to the Court of Protection.
Can I have more than one attorney?
Yes, you can appoint more than one attorney to act jointly or severally.
Can I revoke an LPA?
Yes, you can revoke an LPA at any time as long as you have mental capacity.
Do I need a solicitor to make a Lasting Power of Attorney?
No, you don't necessarily need a solicitor to make a Lasting Power of Attorney (LPA) in the UK. Here's a breakdown of the options:
Do-it-yourself (DIY): You can find LPA forms online and complete them yourself. However, there are some risks involved:
Legal complexities: LPAs involve legal terminology. Mistakes can lead to delays or the LPA being invalid.
Choosing the right type of LPA and outlining the specific powers you want to grant your attorney requires careful consideration
Company Select: We offer a Lasting Power of Attorney Guidance. We can:
Explain your options and help you choose the right LPA.
Assist you in completing the forms accurately.
Ensure legal compliance and minimise the risk of errors.
Solicitor: Hiring a solicitor provides the highest level of legal expertise. They can handle the entire LPA process, ensuring everything is completed correctly. However, this option typically comes at a higher cost.
What is the difference between a Power of Attorney and a Lasting Power of Attorney?
A Lasting Power of Attorney (LPA) and a standard Power of Attorney (POA) are similar legal documents that allow you to appoint someone to make decisions on your behalf. However, there are some key differences which we have laid out below:
How quickly can you get Lasting Power of Attorney?
While the official LPA registration process can take up to 20 weeks, we work diligently to ensure your application is accurate and complete, minimising any delays. Our Lasting Power of Attorney guidance will help you handle the registration process or we can do it on your behalf, depending on your preference.
I'm married, do I still need an LPA?
This is a common misconception. Even though you're married (or in a civil partnership), your spouse/civil partner doesn't automatically have the legal authority to make decisions on your behalf if you lose mental capacity. An LPA ensures your wishes are respected and empowers your chosen attorney to make crucial decisions regarding your finances, healthcare, and well-being.
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