Private Wealth /

Lasting Power of Attorney FAQs

A Lasting Power of Attorney is a legal document that allows someone to make decisions on your behalf should you become unable to do so yourself. You can give instructions on what should happen to your money, health or well-being in the event of old age, illness or injury that affects your mental capacity. While a will ensures your wishes are carried out after death, a Lasting Power of Attorney is created to protect your interests during your lifetime.

Make an enquiryMeet the teamLasting Power of Attorney FAQs

Lasting Power of Attorney FAQs
  • The Team

    Our lawyers have the expertise and experience to provide you with creative, personalised solutions in a clear and understandable way.

    ArrowMeet the team

  • Our Publications

    Discover a wealth of invaluable guidance in the form of guides and brochures written by our expert lawyers.

    ArrowSee our downloads

  • Our insights

    Discover the latest insights and thought leadership from our team of legal experts.

    ArrowFind out more

About

What does a Lasting Power of Attorney cover?

A Lasting Power of Attorney empowers someone you trust to make important decisions on your behalf if you are unable to do so. There are two types of LPA:

  1. Financial affairs: A financial LPA gives your attorney the authority to make decisions about your financial matters including paying bills, managing bank accounts, collecting benefits and pensions, making investments and selling or buying property.
  2. Health and welfare: A health and welfare LPA allows your attorney to make decisions about your medical treatment, social care, daily routines and life-sustaining or end-of-life treatments.

Why should I have a Lasting Power of Attorney?

Without an LPA in place, your loved ones may not be able to make decisions about your finances or well-being if there comes a time when you are no longer able to do so. They would need to apply for this authority through the Court of Protection, which is often very costly and time-consuming for family members.

Signing an LPA while you are still able to do so gives you much more control over your future affairs. You can decide exactly how much control your attorney(s) should have, and reduce the likelihood of family disputes by ensuring your wishes are laid out.

How do I make a Lasting Power of Attorney?

The important thing is to act while you can still make decisions for yourself. Once you lose the ability to understand what powers you are giving away, you are no longer able to sign an LPA.

The process of setting up an LPA requires careful consideration and legal advice. There are many things to consider, including:

  • Who should act as your attorney
  • If you are appointing more than one attorney, whether you want them to act together or independently
  • Whether you wish to appoint any alternative trustees and in what circumstances
  • Your specific instructions to your attorney.

You will also need an independent Certificate Provider. This person will sign the LPA to confirm that you were not acting under duress and had the capacity to make the LPA at the time of its creation. We can sign this section for you, or you can consult a medical professional or a close personal friend who has known you for at least two years and would be willing to testify as to your capacity in Court if required.

The final step is registering the Lasting Powers of Attorney with the Office of the Public Guardian. Your attorneys cannot act until the LPA is registered.

In the event that no LPAs were prepared, and it is necessary to deputise on behalf of the incapacitated individual, or in fact any dealings with the Court of Protection, we offer help with deputy applications, gift applications, contested Court of Protection applications, Statutory Will applications amongst others.

As one of the UK’s leading Private Wealth teams, we can help you create and register Lasting Powers of Attorney to protect your long-term well-being and financial security. If you would like advice on this topic, please get in touch with our team.

Spotlight

Wills for business owners

We advise clients who own businesses on how best to structure their will so as to make use of business property relief in passing assets down to future generations. A will trust to hold business assets is often flexible and tax-efficient, whether the intention is that the business continues to be owned and run by the family, or the business will be sold.

Lasting Power of Attorney FAQs Publications

  • cryptocurrency coins

    Planning with crypto assets

    It is increasingly important for individuals to understand how crypto assets are taxed, both in life and on death, and ensure the consideration of crypto assets in succession planning.

    Download now

  • employment lawyers

    A Question of Capacity

    This guide, A Question of Capacity, outlines key points for consideration to ensure business owners put their businesses in the best position possible in the event of your incapacity.

    Download now

Lasting Power of Attorney FAQs insights

View all insights

Back

Need some more information? Make an enquiry below



    Lasting Power of Attorney FAQs key contacts

    Lasting Power of Attorney FAQs

    Lasting Power of Attorney FAQs

    Lasting Power of Attorney FAQs

    A Lasting Power of Attorney is a legal document that allows someone to make decisions on your behalf should you become unable to do so yourself. You can give instructions on what should happen to your money, health or well-being in the event of old age, illness or injury that affects your mental capacity. While a will ensures your wishes are carried out after death, a Lasting Power of Attorney is created to protect your interests during your lifetime.

    • The Team

      Our lawyers have the expertise and experience to provide you with creative, personalised solutions in a clear and understandable way.

      ArrowMeet the team

    • Our Publications

      Discover a wealth of invaluable guidance in the form of guides and brochures written by our expert lawyers.

      ArrowSee our downloads

    • Our insights

      Discover the latest insights and thought leadership from our team of legal experts.

      ArrowFind out more

    What does a Lasting Power of Attorney cover?

    A Lasting Power of Attorney empowers someone you trust to make important decisions on your behalf if you are unable to do so. There are two types of LPA:

    1. Financial affairs: A financial LPA gives your attorney the authority to make decisions about your financial matters including paying bills, managing bank accounts, collecting benefits and pensions, making investments and selling or buying property.
    2. Health and welfare: A health and welfare LPA allows your attorney to make decisions about your medical treatment, social care, daily routines and life-sustaining or end-of-life treatments.

    Why should I have a Lasting Power of Attorney?

    Without an LPA in place, your loved ones may not be able to make decisions about your finances or well-being if there comes a time when you are no longer able to do so. They would need to apply for this authority through the Court of Protection, which is often very costly and time-consuming for family members.

    Signing an LPA while you are still able to do so gives you much more control over your future affairs. You can decide exactly how much control your attorney(s) should have, and reduce the likelihood of family disputes by ensuring your wishes are laid out.

    How do I make a Lasting Power of Attorney?

    The important thing is to act while you can still make decisions for yourself. Once you lose the ability to understand what powers you are giving away, you are no longer able to sign an LPA.

    The process of setting up an LPA requires careful consideration and legal advice. There are many things to consider, including:

    • Who should act as your attorney
    • If you are appointing more than one attorney, whether you want them to act together or independently
    • Whether you wish to appoint any alternative trustees and in what circumstances
    • Your specific instructions to your attorney.

    You will also need an independent Certificate Provider. This person will sign the LPA to confirm that you were not acting under duress and had the capacity to make the LPA at the time of its creation. We can sign this section for you, or you can consult a medical professional or a close personal friend who has known you for at least two years and would be willing to testify as to your capacity in Court if required.

    The final step is registering the Lasting Powers of Attorney with the Office of the Public Guardian. Your attorneys cannot act until the LPA is registered.

    In the event that no LPAs were prepared, and it is necessary to deputise on behalf of the incapacitated individual, or in fact any dealings with the Court of Protection, we offer help with deputy applications, gift applications, contested Court of Protection applications, Statutory Will applications amongst others.

    As one of the UK’s leading Private Wealth teams, we can help you create and register Lasting Powers of Attorney to protect your long-term well-being and financial security. If you would like advice on this topic, please get in touch with our team.

    SPOTLIGHT

    Wills for business ownersopen

    We advise clients who own businesses on how best to structure their will so as to make use of business property relief in passing assets down to future generations. A will trust to hold business assets is often flexible and tax-efficient, whether the intention is that the business continues to be owned and run by the family, or the business will be sold.

    Lasting Power of Attorney FAQs Publications

    Lasting Power of Attorney FAQs insights

    View all insights

    Need some more information? Make an enquiry below.

      Subscribe

      Please add your details and your areas of interest below

      Specialist sectors:

      Legal services:

      Other information:

      Jurisdictions of interest to you (other than UK):



      Message us on WhatsApp (calling not available)

      Please note that Collyer Bristow provides this service during office hours for general information and enquiries only and that no legal or other professional advice will be provided over the WhatsApp platform. Please also note that if you choose to use this platform your personal data is likely to be processed outside the UK and EEA, including in the US. Appropriate legal or other professional opinion should be taken before taking or omitting to take any action in respect of any specific problem. Collyer Bristow LLP accepts no liability for any loss or damage which may arise from reliance on information provided. All information will be deleted immediately upon completion of a conversation.

      I accept Close

      Close
      Scroll up

      Get in touch

      Get in touch using our form below.



        Business Close
        Private Wealth Close
        Hot Topics Close