LASTING POWER OF ATTORNEY In COVENTRY

What is a Lasting Power of Attorney?

A Lasting Power of Attorney, often just referred to as an LPA, is a legal document that lets you appoint someone, called an Attorney, to make decisions on your behalf and handle your affairs for you under circumstances when you are physically or mentally unable to do so yourself.

Making a Lasting Power of Attorney does not mean you suddenly lose the ability to make your own decisions. You remain in charge of your own affairs for as long as you are able to be and want to be.

It is important that the LPA is completed and registered with the Office of the Public Guardian whilst you have mental capacity.  Here at Burbage Finance we complete the whole process so that you have the registered documents ready for use as soon as a change of circumstances occurs. These documents last the whole of your lifetime so there is nothing further for you to do.

Our Advisors will guide you through the options available within the Lasting Power of Attorney and explain it in plain English so that you are able to understand the implications.

There are two types of Lasting Power of Attorney:

LPA for Property and Finance

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 alternatively let them make all decisions on your behalf. 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. This offers you an extra layer of protection. These details can be sent to your Adviser or a family member if you lose capacity.

LPA for Health and Welfare

Can cover 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
  • to refuse life-sustaining treatment

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LPA for Health and Welfare

Can cover 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
  • to refuse life-sustaining treatment

FAQ

If you are unable to make your own decisions and manage your own affairs than an application to the Court of Protection will have to be made for someone to be appointed as a deputy this can be extremely costly going into the thousands which will be charged to your estate.

The Courts would appoint a Deputy and this may not be the person that you would have chosen and therefore this is not the right person to make your decisions. This process is lengthy and expensive and therefore having a Lasting Power of Attorney in place for when the unexpected happens is the right thing to do.

You may have had discussions with loved ones about your wishes should the unthinkable happen, commonly life sustaining treatment, medication and long term care. Without an LPA in place those wishes may be irrelevant, a doctor or the Local Authority will decide on your behalf and this may be different to your wishes. Alongside this bank accounts and investments could be frozen along with standing orders and direct debits to pay bills in your name. Even having a joint bank account would not stop this happening.

No. A LPA is an individual document and therefore it is prepared per person. However, they can be setup by the same advisor at the same time.

Anybody over the age 18 years old. However, people tend to think about LPA’s later on in life. The best advice is to have the LPA set up earlier on in life and have it in place for when your circumstances change.