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Our fees for Lasting Power of Attorney start at £220 (plus £82 registration fee disbursement).
A Lasting Power of Attorney may not be something people consider until there is a need, however, often by this point, it is too late to set one up as the person signing must have full capacity. Blow Abbott are on hand to help with putting a Power of Attorney in place in Grimsby, Cleethorpes and the surrounding areas. Understanding a Lasting Power of Attorney is the first step in taking control of your personal affairs when you’re no longer able to do so yourself. So if you or a loved one might benefit from this helping hand, speak to our legal adviser, Sophiewho will explain how your whole family and benefit and start the process.
what is a lasting power of attorney?
A Lasting Power of Attorney (LPA) allows a trusted, nominated person (attorney) to make important decisions about your personal affairs and health and welfare on your behalf, should you become mentally incapacitated through serious illness or injury, disability, stroke or dementia.
Without a Power of Attorney in place, you do not have the legal right to step in and use your loved ones bank accounts, help with utility bills, or keep on top of payments. Even if that person is a close relative such as a child or spouse. You would have to apply to the Court of Protection to get a Deputyship order. This process can be both costly and time-consuming, which is one thing you will want to avoid at an upsetting time.
If an LPA is in place, ‘attorneys’ can step in when needed to handle affairs. Understand the difference between lasting power of attorney and deputyship in our blog.
what should you consider with a power of attorney?
A Power of Attorney can only be set up when the person involved (the donor) is mentally capable. Often at the point of need, such as someone going into hospital or residential care, their mental capacity may now not allow them to set up the LPA. So don’t leave the process until it ‘has’ to be done, put provisions in place ahead of time to save hassle and heartache.
Illness or accident can result in physical or mental incapacity at any age. Without a Power of Attorney in place, your relatives can face long delays and expense in applying to the Court of Protection. To take over your assets and finances, even if it is only temporarily.
There are two different types of Lasting Power of Attorney. One for dealing with a person’s property and financial affairs, and the other for anything relating to their health and welfare. For business owners, there is also the option to have a business attorney in place. If they were temporarily unable to handle their business affairs.
A Power of Attorney is straightforward to set up and is affordable. It takes around 6 weeks to complete from initial meeting to registration. A Deputyship application, by comparison, can cost in the region of 10 times the cost of an LPA. And can also take around 6 – 8 months, it is important to understand the difference between the two.