01869 226760 / 07817 685043 gail@bicesterwills.co.uk

Lasting power of attorney

Lasting Power of Attorney Documents 

As much as you try not to you may sometimes find yourself thinking about what would happen if you lose the ability to manage your own financial affairs, pay bills, deal with the bank or buy and sell a property.  Or perhaps you think about who will make decisions about your medical treatment and arrange your care if you lose mental capacity.

If you are having these worries and concerns then it is time to put a Lasting Power of Attorney document in place.

A Lasting Power of Attorney will ensure that if this should happen your affairs would be looked after by someone you know and trust.

 

Both Financial Decisions Lasting Power of Attorney and Health & Care Decisions Lasting Power of Attorney – £950 for a couple

There is also a registration fee payable to the Office of Public Guardian of £82 per document. This registration fee may be reduced to £41 per document if your income is below £12,000 per annum or waived completely if you are in receipt of certain benefits.

If you would like to make an appointment to discuss Lasting Power of Attorneys call now on 01869 226760 or email gail@bicesterwills.co.uk to make an appointment that’s convenient for you either in your own home or at our office 10 Crown Walk Bicester Oxon OX26 6HY

What is a Lasting Power of Attorney Document?

What is a Lasting Power of Attorney Document?

A Lasting Power of Attorney is a legal tool that allows you to state who you would like to make decisions on your behalf, should you become unable to do so in the future through accident or illness. It lets you choose a person (or people) you trust to act for you, this person is referred to as your attorney.  You can name up to 4 attorneys

There are two different types of Lasting Power of Attorney – Financial Decisions Lasting Power of Attorney and Health & Care Decisions Lasting Power of Attorney. Each type covers different decisions and there are separate application forms for each. You can choose to make both types or just one. You can have the same attorney for both, or you can have different attorneys.

 

Financial Decisions Lasting Power of Attorney

Financial Decisions Lasting Power of Attorney

A Financial Decisions Lasting Power of Attorney covers decisions about your finances and property. If there comes a time when you can’t manage your finances anymore, your attorney will do this for you. This can include paying your bills, collecting your income and benefits, or selling your house. It can only be used by your attorney once it has been registered at the Office of the Public Guardian (OPG).

Health and Care Decisions Lasting Power of Attorney

A  Health and Care Decisions Lasting Power of Attorney allows your attorney to make decisions on your behalf about your health and care, if there comes a time when you are unable to make these decisions for yourself. A health and care decisions attorney could make decisions about where you live, for example, or day-to-day care.

You can also give your health and care attorney the power to accept or refuse life-sustaining treatment on your behalf. You will be asked whether you wish to do this or not on the form, and you will need to state your intention clearly.

A Health and Care Decisions Lasting Power of Attorney can only be used once the form is registered at the OPG and you are in a position where you don’t have the mental capacity to make decisions about your own welfare.

If you don’t set up a Lasting Power of Attorney and are then deemed mentally incapable of running your finances, your assets may frozen and it will be up to a court to decide who handles your affairs. The court may appoint a Solicitor this process can take a long time and be very costly.

Health and Care Decisions Lasting Power of Attorney

Health and Care Decisions Lasting Power of Attorney

A  Health and Care Decisions Lasting Power of Attorney allows your attorney to make decisions on your behalf about your health and care, if there comes a time when you are unable to make these decisions for yourself. A health and care decisions attorney could make decisions about where you live, for example, or day-to-day care.

You can also give your health and care attorney the power to accept or refuse life-sustaining treatment on your behalf. You will be asked whether you wish to do this or not on the form, and you will need to state your intention clearly.

A Health and Care Decisions Lasting Power of Attorney can only be used once the form is registered at the OPG and you are in a position where you don’t have the mental capacity to make decisions about your own welfare.

If you don’t set up a Lasting Power of Attorney and are then deemed mentally incapable of running your finances, your assets may frozen and it will be up to a court to decide who handles your affairs. The court may appoint a Solicitor this process can take a long time and be very costly.

Why do it?
  • For peace of mind – you will know who will deal with your financial affairs if you are unable to do it yourself (temporarily or permanently)
  • To save money – a small initial outlay now can save time, trouble and expense, and avoid the cost of a Court of Protection Deputyship in the event of mental incapacity
  • To simplify the administration of your affairs for your family and friends in the event of your mental incapacity.   Your Attorney will be able to deal with your affairs without the difficulties encountered where there is no legal authority
  • To be prepared.   No one can foresee the future; mental incapacity can occur unexpectedly e.g. following an accident or stroke.   Illness may result in physical incapacity or hospitalisation.   Bills still have to be paid, a business needs to be run, and arrangements may need making to sell a house and organise nursing or residential care
Decisions you need to make
  • Decide whom you wish to appoint as your Attorney or Attorneys (e.g. spouse and/or children)
  • Consider if you wish to appoint a substitute Attorney should something happens to your first named Attorney
  • Consider whether you wish to include any restriction on the Power (e.g. limit the power to particular property or to a particular aspect of your finances)
  • Consider at least two family members or friends who will be notified when your Donor registers the Power, to act as a safeguard if there is any reason why the document should not be registered
Costs

The cost for advising you through the process, acting as the Professional Certificate Provider, dealing with the Office of Public Guardian and setting up the documents is as follows:-

Financial Decisions Lasting Power of Attorney- £325

Health and Care Decisions Lasting Power of Attorney -£325

If multiply Lasting Power of Attorney are taken at the same time Bicester Wills & Probate offer a discount

Both Financial Decisions Lasting Power of Attorney and Health & Care Decisions Lasting Power of Attorney – £500 for one person

Services

    

Thank you for coming out to see us at Katherine House and for the speedy return of our Wills. We were delighted that you captured all information accurately and to our wishes.

Mrs S

Milcombe