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Lasting Powers of Attorney Guidance
True Bearing Legal Services is here to provide you and your loved ones with accurate and reliable advice around setting up Lasting Powers of Attorney (LPA). The use of a professional, experienced adviser during the process of applying for an LPA is essential to avoid any mistakes that could mean your documents are rejected by the courts, adding time, money and stress to the process. Our Legal Intermediaries will advise you and complete the process for you.
Have you considered what would happen if you become unable to handle your own financial and medical decisions? This is referred to as ‘losing capacity’ and could result from a medical condition such as dementia or an accident. By having a Lasting Power of Attorney in place, you will have peace of mind that your wishes will be acknowledged and someone will be able to make decisions on your behalf.
An LPA form is a legally binding document that appoints one or more people to deal with your affairs. It allows you to plan in advance and gives reassurance, not just to you but to your family, in the event that you are no longer able to make your own decisions. Your appointee must act in your best interests at all times.
An LPA can only be set up whilst you have capacity. If you do not have an LPA in place and you become in the position of needing to pass control of your affairs to a third party, it will be too late and your family will need to consider other options such as pursuing a deputyship through the courts (which can take many months). During this period, things can stall financially, your funds will be frozen and medical professionals will make decisions on your behalf, rather than your appointed attorney’s. Therefore, the importance of having an LPA in place even if you are currently fit and healthy, cannot be understated.
Our Legal Services team is made up of Legal Intermediaries who have the legal knowledge and experience to guide you through the process of applying for an LPA. There are two types of LPAs; medical power of attorney and financial power of attorney, both of which our Legal Services team will be able to assist you with.
Health and Welfare Lasting Power of Attorney
This type of LPA relates to decisions around your health and welfare. A medical power of attorney could be made for anything, from decisions around medical treatment following an accident, to decisions relating to living arrangements and care requirements.
Property and Financial Affairs Lasting Power of Attorney
A property and financial affairs LPA allows you to choose one or more people to make property and financial affairs decisions on your behalf. For example, if you need to go into a residential home, then having a financial power of attorney in place means decisions could be made about any property you own.
Download your FREE guide to Wills, Lasting Powers of Attorney & Wealth Preservation
This 8-page guide includes a wealth of information about Wills, LPA's and Wealth Preservation including:
- The importance of having a valid, up-to-date Will
- The different types of Lasting Power of Attorney and why you need both
- Learn how you can keep the wealth you have created for your family
- Trust and Estate Planning including Will Trusts and Family Trusts
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How True Bearing Legal Services Can Help You
Here at True Bearing, we have more than 7,000 clients with a retention rate of over 99%. Our Legal Intermediaries have completed a programme of thorough and rigorous training in order to develop the level of knowledge required to assist with a range of complex legal matters, such as Lasting Power of Attorney guidance.
Alongside Lasting Power of Attorney, we are also able to help our clients with Wills, Trusts and Estate Planning. By engaging the services of a Legal Intermediary, you will be working with a knowledgeable professional who will be on hand to advise you every step of the way.
The initial appointment with the Legal Intermediary will be at our expense and can take place either in the comfort of your own home, online via Microsoft Teams or in our offices in Chorley. We believe in transparency so our fees will always be communicated to you before going ahead.
Frequently asked questions about Lasting Powers of Attorney
What is a Lasting Power of Attorney?
It is a legal document in which you nominate a person or persons to be authorised to make decisions on your behalf if you become unable to (i.e. lose mental capacity).
How many different types of LPA are there?
There are two types of Lasting Power of Attorney:
- Property and Financial Power of Attorney - to look after such affairs as bank accounts, stocks and shares, a home, benefits, etc.
- Health and Welfare Power of Attorney - to make medical/welfare decisions on your behalf
We would recommend you set up both types.
Who can be an Attorney?
Anyone over the age of 18 can be an attorney. Power of Attorney can be given to a friend or family member, as well as a professional such as a solicitor. You are able to set up multiple attorneys for each type of Lasting Power of Attorney.
When does a Lasting Power of Attorney end?
Your attorneys’ power will end if they die, lose capacity or become bankrupt. This is why you are able to appoint more than one person, just in case your original appointee becomes unable to act as your attorney. Their power also ends upon your death.
What happens if I do not set up Lasting Power of Attorney and I lose capacity to manage my affairs?
If you did not set up an LPA and you are deemed as having lost capacity, then the only way a person can be legally appointed to manage your affairs would be through a Deputyship Order at the Court of Protection. This is costly and can take a long time to resolve, which is why important you have a Lasting Power of Attorney set up.
How long does it take to register a Lasting Power of Attorney?
Once the documents are submitted, you should expect to be waiting for a period of up to twelve weeks for a Lasting Power of Attorney to be registered, but, in some cases, this may be extended further. This is why we would always advise you to set up an LPA in good time - well before it is required.
True Bearing Legal Services can provide you with the Lasting Power of Attorney advice that you will need to ensure that your chosen attorney will be able to manage your financial and health affairs if you become unable to. To find out more, get in touch with us today to arrange a one-to-one introductory meeting. This will give you an opportunity to discuss your circumstances with us, so that we can advise you on the right services to meet your needs.