You may have seen in a previous issue our
article on the reasons to have a Lasting
Power of Attorney (LPA). However, there
are common misconceptions on why an
LPA may not be necessary which this
article explores further.
“I don’t need an LPA because my next
of kin can make important decisions
on my behalf”
Not true. No-one can act on your behalf
or make decisions on your behalf if they
have not been legally authorised to do so.
“My Will has appointed executors, so
they’ll be able to make decisions on
my behalf.”
Not true. A Will is entirely separate to an
LPA. Executors appointed in a Will only
have the power or authority to distribute
your estate as requested and in line with
your Will, on death. They have no authority
to make decisions on your behalf during
your lifetime.
“I don’t need an LPA until I become
elderly and of ill health”
Not true. An LPA can be made by anyone
over the age or 18 who has full mental
capacity. Someone may lose capacity or
no longer be able to make decisions due
to an accident, being in a coma or other
mental illness.
The sooner you put an LPA in place
the better, as you know provisions will
have been put in place in the event the
unthinkable happens. If you wait and, in
that time, lose capacity, it will be too late to
get an LPA and your loved ones will need
to apply for a Deputyship Order from the
Court of Protection. This will not only take
a long time but also a costly process.
“Once my health and welfare LPA is
registered, it means someone else
can make decisions for me and I
don’t want that while I have capacity”
Not true. A health and welfare LPA
only comes into effect when the donor
loses capacity even if the LPA has been
registered.
“Getting an LPA is expensive”
The cost of registering an LPA is £82
per document. In comparison, if you fail
to make an LPA and lose capacity, your
family will be left with no other option but
to apply for a Deputyship Order, this will
cost significantly more.
“Me and my partner have joint bank
accounts so we don’t need LPA’s”
Not true. This is always the most alarming
to couples when they are told that even
if they have a joint bank account, this
does not mean the partner will be able
to automatically access funds to pay for
bills, mortgage or general expenses. If the
spouse was to lose capacity, the bank have
the ability to remove access and freeze the
account until they receive a copy of the
registered LPA which is extremely stressful
for the spouse.
To put an LPA in place for you or your loved
ones, please contact one of our members
today.
the society of will writers
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