InHouse Wills & Probate
Lasting Power of Attorney
“What happens if I can’t look after things any more?”
If you have already made a Lasting Power of Attorney then the people that you trust take over your affairs. If not, it could be anyone who takes control - including even the local authority.
Lasting Power of Attorney
We all know that there might come a time when we are getting too frail to look after our own affairs - perhaps through sudden accident or illness, or maybe just because of gradually advancing years. Whatever the cause - who would pay the bills, manage your savings, or even speak on your behalf on medical matters?
If you have created a Lasting Power of Attorney (LPA) then it is the person (or people) that you have chosen who will take over. If not, then it could be a relative that you don’t trust who takes control - or even the local authority! You can only make an LPA when you are still mentally capable – so putting it off now might mean that it cannot be done later.
The LPA legislation came into force on 1st October 2007, replacing the rules for Enduring Powers of Attorney (EPA). Existing EPAs remain valid, but only LPAs can be made from that date forward. LPAs come in two flavours
- LPA Property & Financial Affairs (LPA-PA) dealing with financial matters such as your house, bank account, savings.
- LPA Health & Welfare (LPA-HW) dealing with healthcare, medical matters and so forth.
The person (or people) you appoint as attorney must act in your best interests and your money and assets remain yours. Nevertheless, you can place restrictions on them within the document if you feel it appropriate. Your Will writer can help you with this and it is often best done at the same time as making your Will.
What happens if there is no LPA? Your friends or relatives would have to apply to the Court of Protection, in order to be appointed your Deputy. This can be a lengthy process, creating major worry and cost as it is all sorted out. It means that the choice is taken away from you, which might mean that someone you do not like could take control of your finances or could be appointed to speak on your behalf on personal issues.
Take control of the future by making an LPA now.
Your attorneys may need to register the LPA or an existing EPA, with the Court of Protection. As ever, home visit service is available from InHouse to help with this process. Further information is also available from the Office of the Public Guardian (OPG).