On this page
What is an LPA?
A Lasting Power of Attorney (LPA) is a legal document that allows an individual (the “donor”) to appoint one or more individuals (the “attorneys”) to make decisions on their behalf if they become unable to do so themselves. The attorneys can be appointed to make decisions in relation to the donor’s finances and/or their health and welfare.
There are two types of LPA in the UK:
- Property and Financial Affairs LPA
- Health and Welfare LPA
It’s important to note that an LPA can only be used if the donor has lost mental capacity, and can be cancelled at any time while they still have the capacity to make decisions for themselves.
Who is an LPA for?
LPAs are often requested by elderly clients, however, young people should not overlook their importance and the impact not having one could have on themselves or their loved ones.
If someone does not retain the necessary capacity in order to make an LPA then someone (a professional or a loved one) will need to make an application to the Court of Protection for a Deputyship Order.
What are the benefits of having an LPA?
Having an LPA helps to prepare you for an uncertain future. Other benefits include:
- Peace of mind. You know there is someone you trust making decisions on your behalf and in your best interests.
- Suited to you. Because there are two different types of LPA, you can choose the one that is right for you, your affairs and your situation.
- Flexibility. You can decide when an LPA comes into effect.
How much does an LPA cost?
- Single, One Type - From £500+VAT (currently 20%)
- Single, Both Types - From £700+VAT (currently 20%)
- Double, One Type - From £700+VAT (currently 20%)
- Double, Both Types - From £1000+VAT (currently 20%)
There is also a court fee of £92 per document.
Speak with Ann-Marie
Book a free consultation call with Ann-Marie Matthews today.