“I don’t need any help.”
Most of us are guilty of saying this until something happens and we realise, often too late, that in fact we need a voice when we can no longer speak for ourselves.
Every adult in the UK, especially those over the age of 50, should have a Lasting Power of Attorney in place.
There are two types of Lasting Power of Attorney (LPA): one for your financial assets and one for your health and welfare. You can choose to have one or the other, or both.
Without a Power of Attorney, should you lose capacity to manage your affairs, someone else will need to apply to the Court of Protection for a Deputyship. This is a very expensive and lengthy process which involves the Deputy in extensive paperwork over a drawn-out period. You will need a Deputy to act for you if you don’t have an LPA in place and you lose your capacity. No one wants to burden loved ones with unnecessary complications. Having an LPA avoids this.
If you don’t have any children, it is even more important to appoint someone to be your LPA. People often find that more distant relatives will be reluctant to apply for Deputyship, as it is an onerous task.
A Lasting Power of Attorney is an insurance policy for you (and your loved ones)! You hope that you’ll never need it, but you’ll be very relieved that you do if the unthinkable happens.
Our friends at McClure Solicitors believe there are four factors people will consider when thinking about a Power of Attorney. Here is what they have to say:
Awareness – Many clients will have heard the term Power of Attorney, but very few actually know what it is or, more importantly, know how it can save time and money for relatives if they lose capacity, or simply just get older and may be more house bound. The alternative is they do nothing and then their family needs to apply for Deputyship in England & Wales, which takes a long time to put in place and will cost £1000’s rather than £100’s
Solution – We will put our clients’ minds at rest and explain what it is and how it will benefit them, and their families, and attorneys
Bother – In normal times it would involve making an appointment, getting ready and travelling to a McClure office or Charity Will Clinic
Solution – Clients still need to make a call but from the comfort of their home – they don’t even need to leave the house! We will speak to them on the telephone or, in this new age we live in, via video call using Zoom, Skype or WhatsApp
Cost – “Do I really need to spend all that money now – No, it can wait.” Clients probably don’t even know how much it will cost but will assume a lot. And they would be right if they weren’t using our Special Price Power of Attorney
Solution – Most Power of Attorneys in the UK will cost up to and in some cases over £1000. McClure will only charge £199 (inc VAT) for the Financial POA and we include the Welfare POA, free of charge. And even better, McClure lets clients know that we pay to your charity £30 of our fee as a Firm donation.
Control – If clients don’t know what a Power of Attorney is, then the last thing they want to do is hand over control to someone else even though, in most cases, it’s their children.
Solution – We explain that Power of Attorney is a two-stage process.
- Agreeing the legal Deed and getting this signed, then,
- If and when the time comes, the client gets it registered with the Office of Public Guardian. This does not need to be at the same time, so if they delay this part until they actually need the POA, the client stays in control.
Join our free talk on Tuesday 15 September at 11:15am and find out more about a Lasting Power of Attorney and ask any questions you may have. We hope you can join us – Register here
If you would like to chat to someone about Lasting Powers call McClure Solicitors on 0800 852 1999 or email email@example.com
For a complete list of solicitors in your local area, please refer to the following website: https://www.gov.uk/find-a-legal-adviser
You can also visit https://www.gov.uk/power-of-attorney for more information on how to do this yourself. Please just make sure you read everything carefully to ensure the documents are completed and signed correctly.