Fixed Fee Lasting Power of Attorney for Peace of Mind

Why do I need a Lasting Power of Attorney?

Mental incapacity isn’t limited to old age. Illness, accidents, or conditions like dementia can affect anyone at any time.

One in four strokes in the UK happen in people under the age of 65 (Stroke Association)
An estimated 42,000 people under the age of 65 in the UK have dementia – more than 5 per cent of all those with dementia (Alzheimer’s Society)
Accidents can affect anybody at any time, rendering them unable to manage their affairs.

Many assume their spouse or partner can automatically manage finances and healthcare decisions. However, legal barriers often prevent this unless a Lasting Power of Attorney is in place. For example:

Joint accounts may be frozen, making it difficult to access funds for essential care.
Critical decisions about medical treatment could be delayed without proper legal authority.

Having a Lasting Power of Attorney ensures that someone you trust will handle your affairs, giving you peace of mind and sparing your family unnecessary stress.

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What Is a Lasting Power of Attorney?

A Lasting Power of Attorney is a legal document that allows you to appoint a trusted attorney to make decisions on your behalf if you cannot do so.

There are two types of Lasting Power of Attorney – one for financial decisions (including property) and the other for health and care decisions. Both must be registered before they are valid.

Property and Financial

Covers managing bank accounts, paying bills, or even selling property.
Can be used with your permission while you still have mental capacity, providing flexibility during extended absences or hospital stays.

Health and Welfare

Deals with decisions about medical treatment, daily care, and living arrangements.
Activated only when you lose mental capacity.

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Paul King TEP Explains:

What Happens If I Don’t Have a Lasting Power of Attorney?

Understanding the Risks of Losing Capacity

A Lasting Power of Attorney (LPA) is a vital way to protect your future and reduce stress for your loved ones. With affordable, professional advice, you can safeguard your assets and secure peace of mind for both yourself and your family. Without an LPA in place, your loved ones could face significant challenges and legal hurdles if you were to lose mental capacity.

They may need to apply to the Court of Protection for a Deputyship Order, which:

Is costly and time-consuming: The process involves application fees, legal costs, and potential hearing fees, creating a financial and emotional burden.
Gives decision-making power to someone you might not choose: The court decides who will manage your affairs, which might not align with your preferences.
Can lead to intrusive supervision: Deputies are subject to ongoing annual oversight, including supervision fees.

By creating a Lasting Power of Attorney, you remain in control. You decide who will manage your finances and make healthcare decisions on your behalf, ensuring your best interests are protected.

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