Powers of Attorney
|
At present there are two main types:
- General Power of Attorney; and
- Lasting Powers of Attorney.
In our practice we do sometimes prepare general powers of attorney, but the most common and most useful type is the Lasting Power of Attorney (LPA) - Property and Affairs, or Health and Welfare.
Do I need to Make a Lasting Power of Attorney?
It is highly recommended for all, especially those over 50 but not exclusively.
An LPA can become effective straightaway, or be put in place as a precaution for the future. It can be cancelled at any time whilst mental capacity remains. To be effective so that it can be used, an LPA has to be registered with the Office of the Public Guardian (OPG). The OPG fee to register is £82.
The cost?
We charge £350 plus VAT.
Or if at the same time as making a Will, the cost is lower - standard LPA £300 plus VAT.
What if mental capacity of the donor is lost?
A general power lapses in these circumstances, and recourse has to be made to the Office of the Public Guardian (Court of Protection).
An LPA can still be used provided it has been registered.
|
|
