Lasting Powers of Attorney Are More Important Than a Will

In our opinion, making Lasting Powers of Attorney (LPA) is more important than making a Will.

What is a Will?

This is a testamentary disposition i.e., a legal document detailing the transfer of ownership or gifts of your property and wealth on death.  You can also include other wishes that you have such as guardians for children, funeral arrangements, organ donation and business succession by having a drafted document signed by you and witnessed by independent parties with the appointment of executors (who handle the contents/instructions in your will) as well as appointing trustees to look after your money for the benefit of any beneficiaries until the estate is resolved and ready to be distributed.  This is a document used on your death.

• No Will: If you have not made a Will, the Intestate Estates Act takes over and your assets will still be distributed to loved ones depending upon your marital position and whether you have children or not.  This means that despite having not made a Will, the law is already in place to make sure dependent loved ones are looked after.
• Even if you are single with no children and no will, the law states that parents, brothers and sisters, half brothers/sisters, grandparents, uncles/aunts, half uncles/aunts will inherit your wealth in order of priority.

Watch/Read: No to Intestacy

What if you don’t die?  What if you are physically or mentally incapacitated and unable to look after your affairs?  A will does not deal with this. 

Who will deal with your medical decisions and care?  Who will claim your pension?  Who will pay your bills? Who will manage your bank accounts and investments?

Court of Protection

If you have not made arrangements to look after yourself or your financial affairs and you become incapacitated, the Court of Protection will take over with the Office of the Public Guardian appointing a deputy to look after you and your affairs.  This may not be your loved ones; it could be a nameless/faceless person based hundreds of miles away who does not know you and does not know what you would want or like in the event of incapacity.

Lasting Power of Attorney

Appointing attorneys to look after your care or your affairs is more important than having a Will as there is no law (unlike the Intestate Estates Act) to ensure loved ones look after you and your affairs, only that the Court of Protection.  Do you really want this?  By making Lasting Powers of Attorney, you take the pain and anguish away by already having appointed someone to look after your affairs.

Two Types of Lasting Power of Attorney

• Health and Welfare LPA – as you would expect, giving attorneys the power to make decisions in respect of daily care, medical care, moving to a care home and whether to give life sustaining treatment.
• Property and Financial LPA – giving attorneys the power to make decisions in respect of you bank accounts, paying bills,  collecting benefits or pensions as well as selling your home.

How to Apply for a LPA?

• You can apply online using the government’s website https://www.gov.uk/power-of-attorney/make-lasting-power
• The online application system will then create a form for you to download to sign it as well as witnessed/signed by ‘certificate provider’ such as your doctor, solicitor or financial adviser confirming that you are signing the document under no duress or pressure and appointing your attorneys under your own free will and capacity.
• Your attorneys and even reserve attorneys also sign the forms.
• The LPA forms are then sent to the Office of the Public Guardian (OPG) to be registered.
• There is a fee currently of £82 per LPA, meaning a fee of £164 if you have made both Health and Welfare LPA as well as a Property and Financial LPA.
• Fees may be discounted of even waived if you are on low income or benefits.
• It can take up to 20 weeks for the OPG to register your LPAs.
• Once registered, your LPA is in force although it cannot be used without your permission or if you lose capacity.
• You and your attorneys can electronically share your LPA with organisations such as your bank, financial adviser, pension company etc to prove that you have given them power to look after you or your affairs.

We offer help with drafting LPAs and submission to the OPG for a fee, but you can do it yourself via the government website.

Our fees: Power of Attorney

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