Lasting Power of Attorney
Have you made a Lasting Power of Attorney which was registered with the Office of the Public Guardian in the last 5 years? If so, you may be owed some money.
Here at Trethowans we recommend that all our clients make Lasting Powers of Attorney (LPAs). There are two types, one for property and financial affairs and one for health and welfare.
An LPA allows you to nominate a person/people to make decisions on your behalf when you can no longer make them yourself. The financial LPA can, if you choose to let it, allow someone to make decisions for you whilst you have mental capacity. This could be if you do not want to make decisions yourself or cannot sign paperwork yourself, for example if you are abroad for an extended period of time.
Making an LPA is important. It gives you the peace of mind that if you cannot manage your own affairs, the people making decisions for you will be the trusted ones you have chosen. Having an LPA in place can make life easier for your loved ones. It is one less problem they have to worry about if you start to lose mental capacity. Without an LPA, the Court often needs to appoint a Deputy who may not be the person you would have chosen yourself. The process is expensive and complicated by ongoing Court procedures.
For LPAs to be useable they have to be registered at the Office of the Public Guardian (OPG). The registration fee is now down to £82 per LPA (in certain circumstances this can be reduced or waived). The reduction from the old fee of £110 per LPA applies to all LPAs registered since 1st April 2013 due to a reassessment of the court’s operational costs. Therefore if your LPA was registered between 1 April 2013 and 31 March 2017, you may be due a refund which you can claim by using the online claim tool at here .
If you need help or would like to discuss anything about LPAs then please do not hesitate to contact our expert private client team. We are always happy to speak to you.