Lasting Powers of Attorney

A Power of Attorney is a document whereby a person (the Donor), appoints one or more people (the Attorney(s), to deal with matters on behalf of the Donor.

At various times in our life it is desirable or necessary to allow someone else to deal with your affairs. For those who are getting older and whose physical and mental abilities may be beginning to decline this can be particularly important. Generally speaking the best way to look after another person’s affairs is by way of a Power of Attorney. There are a number of different types of Powers of Attorney but for the elderly the most appropriate is usually either an Enduring Power of Attorney (EPA) or a Lasting Power of Attorney (LPA). Since October 2007 it has not been possible to make new EPA although it is important to note that existing EPAs remain valid, instead it has been necessary to create an LPA.

The most important facts to know about an LPA are:
1. They will remain valid irrespective of your mental capacity and can be used for many years.
2. They can cover just your property and financial affairs or welfare or both. A separate document
    deals with (a) Property and financial affairs and (b) personal welfare.
3. You can have different Attorneys for Property and for Welfare issues.
4. You can have one or more attorneys and you can appoint replacement attorneys to cover 
    the possibility that one attorney dies or is unavailable.
5. Your Attorneys may be obliged to work together or can act separately.
6. You can give your Attorneys unlimited powers or you can restrict their activities.
    The law also imposes certain restrictions on what an Attorney can and cannot do.
7. It is essential that you can trust your Attorneys. There are a number of safeguards designed
    to reduce the risk that your Attorney(s) can abuse his/her/their position but it is still a position
    of great trust and every year there are reports of cases where an Attorney has tried to take
    advantage of the position.
8. If you do not have an EPA and fail to make an LPA then if you cease to be able to manage
    your affairs it is likely that an application will have to be made to the Court of Protection for
    a Deputy to be appointed to look after your affairs. This can be a very slow and extremely
    expensive option.

Increasingly we recommend that any person who has complex financial affairs, suffers from a chronic illness or is simply beginning to slow down should make a LPA. At Herrington Carmichael we have considerable experience with the many issues involved and are able to give helpful advice and guide you through the sometime complex world of the LPA.

Many people may already have an Enduring Power of Attorney. Although it is no longer possible to make an Enduring Power those documents already in existence remain valid and will do so until such time as the person who made the document, or the attorney, dies, or the document is cancelled. The document that has replaced the Enduring Power of Attorney is the Lasting Power of Attorney. Below are some information leaflets that may be of assistance to you.

Powers of Attorney - Frequently Asked Questions - click here
Why we would recommend making a Lasting Power of Attorney - click here
Working with a Lasting Power of Attorneyclick here
Registering a Lasting Power of Attorney - click here
Registration Fees for Powers of Attorney - click here
Lasting Powers of Attorney Instruction Form - click here
Deputy Applications - click here
 

For further information on Powers of Attorney contact Anthony Tahourdin on 0118 977 4045 email anthony.tahourdin@herrington -carmichael.com.