Download our guide which explains what would happen if you suffered an unexpected loss of mental capacity.
Lasting Power of Attorney from £354
Appoint one or more people to make decisions on your behalf
What is a Lasting Power of Attorney (LPA)?
A Lasting Power of Attorney is a legal document that allows you to appoint one or more people to make decisions on your behalf during your lifetime. The people you appoint to manage your affairs are called the Attorneys. A Lasting Power of Attorney is a completely separate legal document to your Will although many people put them in place at the same time as getting their Will written, as part of wanting to plan for the future.
How much does a Lasting Power of Attorney cost?
A Lasting Power of Attorney costs from £354 including VAT. Mirror Lasting Powers of Attorney start from £594 for two people.
Why is a Lasting Power of Attorney so important?
Once you have a Lasting Power of Attorney in place you can have peace of mind that there is someone you trust to look after your affairs if you became unable to do so yourself during your lifetime. This may occur, for example, because of an illness or old age or an accident.
Having a Lasting Power of Attorney in place can allow your attorney to have authority to deal with your finances and property as well as make decisions about your health and welfare. Your Lasting Power of Attorney can include binding instructions together with general preferences for your attorney to consider. Your Lasting Power of Attorney should reflect your particular wishes so you know that the things that matter most would be taken care of.
You can only put a Lasting Power of Attorney (LPA) in place whilst you are capable of understanding the nature and effect of the document i.e. you have the required legal capacity. After this point, you cannot enter into a LPA and no one can do so on your behalf.
Many people don’t know that their next of kin has no automatic legal right to manage their spouse’s affairs without a Lasting Power of Attorney in place, so having to make decisions on their behalf can become prolonged and significantly more expensive.
The best solution is for couples to have ‘Mirror’ (identical) Lasting Powers of Attorneys because these documents would allow them to appoint each other to make decisions about each other’s financial affairs and health issues; should one of them lose capacity to do so.
What happens without a Lasting Power of Attorney?
Without a Lasting Power of Attorney (LPA) in place there is no one with the legal authority to manage your affairs, for example, to access bank accounts or investments in your name or sell your property on your behalf. Unfortunately, many people assume that their spouse, partner or children will just be able to take care of things but the reality is that simply isn’t the case.
In these circumstances, in order for someone to obtain legal authority over your affairs, that person would need to apply to the Court of Protection and the Court will decide on the person to be appointed to manage your affairs. The person chosen is appointed your ‘Deputy’. This is a very different type of appointment which is significantly more involved and costly than being appointed attorney under a LPA.
If you wish to have peace of mind that a particular person will have the legal authority to look after your affairs and you want to make matters easier for them and less expensive, then you should strongly consider getting a Lasting Power of Attorney in place.
Start your Lasting Power of Attorney online
Start your Lasting Power of Attorney (LPA) online and get everything in place in 4 easy steps
Types of Lasting Power of Attorney explained
Two types of Lasting Power of Attorney are available under English law:
- Health and Welfare Lasting Power of Attorney
- Property and Financial Affairs Lasting Power of Attorney
Health and welfare lasting power of attorney
A Health and Welfare Lasting Power of Attorney (LPA) allows you to name Attorneys to make decisions about your healthcare, treatments and living arrangements if you lose the ability to make those decisions yourself. Unlike the Property and Financial Affairs LPA, this document will only ever become effective if you lack the mental capacity to make decisions for yourself.
If you can’t communicate your wishes, you could end up in a care home when you may have preferred to stay in your own home. You may also receive medical treatments or be put into a nursing home that you would have refused, if only you had the opportunity to express yourself; and this is when your attorney, appointed by the Lasting Power of Attorney, can speak for you.
Property and financial affairs lasting power of attorney
A Property and Financial Affairs Lasting Power of Attorney (LPA) allows you to name Attorneys to deal with all your property and financial assets in England and Wales. The Lasting Power of Attorney document can be restricted so it can only be used if you were to lose mental capacity, or it can be used more widely, such as if you suffer from illness, have mobility issues, or if you spend time outside the UK.
LPAs for sole traders and SME business owners
What would happen to your business if you lost the ability to deal with your own business affairs and make decisions?
What if you have a business bank account in your name as a sole trader or joint bank accounts with other business owners which require the signatures of all the named account holders?
How would your business finances be managed on a daily basis in the event of an accident or illness?
A number of problems could arise such as the impact on your customers being unable to access your products or staff or creditors not being paid.
Having a Lasting Power of Attorney could mean the difference between your business continuing or going out of business.
Lasting Power of Attorney application fee
Before a Lasting Power of Attorney can be used by your attorney it must be registered with The Office of the Public Guardian (OPG). They charge a registration fee of £82 per Lasting Power of Attorney. If you would like us to register your LPA for you then we will ask you to provide this payment.
However, there can be an exemption for people who receive certain means-tested benefits, and a 50% fee reduction may be available based on the applicant’s financial circumstances or a reduction based on the applicant receiving Universal Credit. For details see Office of the Public Guardian fees.
Co-op Legal Services fixed fee Lasting Power of Attorney does not include The Office of the Public Guardian registration fee, nor their fee for a certified copy of a Lasting Power of Attorney which is currently £35.
Benefits of writing a Lasting Power of Attorney with Co-op Legal Services
- dedicated LPA specialist to look after you throughout the process
- direct-dial phone number for your LPA specialist
- a full assessment of your needs and explanation of your options
- we prepare all the necessary Lasting Power of Attorney documents for you to sign
- fixed fee prices agreed upfront before any work on your LPA starts
- we’re here 9am to 8pm on weekdays and 9am to 1pm Saturdays
For peace of mind, we can take full responsibility for the registration of your Lasting Powers of Attorney with the Office of the Public Guardian (OPG), which will require payment of both our fixed fee and the OPG registration fee which is currently £82.
For more information see Lasting Power of Attorney FAQ.
Co-op Legal Services has over 600 staff working in different businesses with offices in Manchester, Bristol, Stratford-upon-Avon, Sheffield and London.
Friendly service conducted in plain English over the phone. (C. Cousens)