What is Power of Attorney and when is it important?
What is a Lasting Power of Attorney (‘LPA’)?
An LPA is a legal document that appoints another person or persons to manage your financial affairs and/or health and welfare on your behalf.
What types of LPA are there?
There are two types of LPA:
- Finance and Property LPA - This enables your attorneys to make decisions regarding your bank accounts, savings, investments, property and to pay bills and expenses.
- Health and Welfare LPA - This enables your attorneys to make decisions about your care and medical treatment, including life sustaining treatment.
Each LPA is independent of the other, so you can have different attorneys on each one of you wish. You can also choose to just make one type of LPA if required.
Who can be my attorney?
Anyone can be your attorney, however it is essential that you trust your appointed attorney as they could ultimately have access to all of your finances and be in charge of your welfare.
More often than not, it is a family member, however if you cannot trust them to act in your best interests, then a friend or even solicitor can be your attorney.
If I am married, surely my spouse would have access to my accounts anyway?
Unfortunately not. Strictly speaking, any joint account is operated on the basis that both account holders give permission for the other to operate the account. If one person loses capacity, they can no longer give permission, so the bank can freeze the account until they see an LPA. Certainly any accounts held in your sole name would not be accessible by anyone else if you lost capacity unless they were appointed as your attorney.
What is the process?
You Will need to make an appointment with one of our specialists to provide us with your instructions and to enable us to provide you Will all of the necessary advice. The LPA Will need to be signed by you, the solicitor and all of the attorneys, although not necessarily at the same time.
Once the LPA has been signed it is then sent for registration, which takes around 8-9 weeks. The LPA’s cannot be used until they have been registered.
To Prepare and register one type of LPA the cost is £350 plus VAT for a single person or £500 plus VAT for a couple.
To prepare and register both types of LPA the cost is £500 plus VAT for a single person or £800 plus VAT for a couple.
In addition to our fees, there is also a registration fee payable to the Office of Public Guardian in the sum of £82 per document.
If you would like a quote for Power of Attorney or to find out more about our services, please contact:Jennifer Wilkinson – firstname.lastname@example.org
Sarah Rostamlou-Andrews – email@example.com
Our clients say...
Thank you for the great service during our house selling/buying process. It is the 2nd time we have used you for a house move and once again you have been really easy to deal with, efficient, quick to respond to queries etc……So really I just wanted to say thank you to you and the team for making the process nice and stress free (and quick!) for us. It is much appreciated and we Will continue to recommend you to friends.
Thank you so much for dealing with my sale and purchase. I was very pleased with the way you dealt with my concerns and the online system was very impressive.
This is just a huge thank you for all your professionalism, hard work and total kindness during my flat purchase.
As always the service we have received from Cook and Talbot has been first class. As you know this has not been the easiest and most straightforward of sales and purchases, and your prompt responses to queries and requests have been most helpful.
May I take this opportunity to thank you and your staff for dealing with all my transactions smoothly and efficiently and I am now very pleased to be in my new home at last.
I just wanted to thank you for the efficient and excellent service we have received from you regarding the sale and purchase of our property. The experience was not at all stressful (which it has been in the past) and I´d like to extend our thanks to you for that!
I wanted to thank you so much for overseeing my application for remortgage so brilliantly. From the beginning to completion you were consistently helpful, informative and reassuring and kept me up to date with each step of the process, which was greatly appreciated. I was really impressed and delighted that you made the whole thing so straightforward and painless especially as my previous legal experience when securing my original mortgage was anything but.
Excellent service and advice as usual in what proved a slightly difficult case.
Thank you to all your staff for the smooth sale of my property……I would have no qualms about recommending your firm of solicitors to any of my friends…
Thank you very much for the attention to detail and the speed in which you work for us…
We would like to say a huge thank you for all your efforts during our recent house purchase. Your professional service and constant updates has ensured that the process was as stress-free as possible and for that we are very grateful. We would have no hesitation in recommending your services for the future”