FAQs-Lasting Power of Attorney

Oftentimes we are bombarded with questions that relates especially to our plans of ensuring a brighter future for your business in the time of your passing. Listed below are the top Frequently Asked Questions about Lasting Power of Attorney in the UK that can help you.

1. What is a Lasting Power of Attorney (LPA)?

A Lasting Power of Attorney (LPA) is a legal document that allows you to appoint someone you trust to make decisions on your behalf if you lose the ability to make decisions for yourself. There are two types of LPAs:

  • Property and financial affairs LPA: This allows your attorney to manage your money, pay your bills, and sell your property.
  • Health and welfare LPA: This allows your attorney to make decisions about your healthcare, including making decisions about your treatment and where you live.

2. Who can I appoint as my attorney?

You can appoint anyone you trust to be your attorney, as long as they are over 18 and mentally capable. It is important to choose someone who is reliable and who you know will make decisions that are in your best interests.

3. What can my attorney do?

The powers of your attorney will depend on the type of LPA you make. For example, if you make a property and financial affairs LPA, your attorney will be able to manage your money, pay your bills, and sell your property. If you make a health and welfare LPA, your attorney will be able to make decisions about your healthcare, including making decisions about your treatment and where you live.

4. How do I make an LPA?

You can make an LPA online or by using a paper form. If you make an LPA online, you will need to create an account with the Office of the Public Guardian (OPG). If you use a paper form, you can download a form from the OPG website.

5. How much does it cost to make an LPA?

The cost of making an LPA varies depending on how you make it. If you make an LPA online, the cost is £120. If you use a paper form, the cost is £110.

6. When does my LPA come into effect?

Your LPA will only come into effect if you lose the ability to make decisions for yourself. This is called losing capacity. If you lose capacity, your attorney will be able to start using your LPA to make decisions on your behalf.

7. What happens if my attorney dies or becomes unable to act?

If your attorney dies or becomes unable to act, you can appoint a replacement attorney. You can do this by making a new LPA or by amending your existing LPA.

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