Lasting Powers of Attorney (LPA) are legal documents allowing you to appoint one or more people (known as attorneys) to help you make decisions, or to make decisions on your behalf.
Much like a Will, this provides you and your loved ones with peace of mind that should you have an accident or illness, resulting in loss of capacity, you will be looked after by those closest to you.
Types of Lasting Power of Attorney
Health & Welfare:
- Your daily routine
- General medical care
- Moving into a residential care home
- Life Sustaining Treatment
The Health & Welfare document can only be used when capacity has been lost.
Property & Finance:
- Managing bank/building society accounts
- Paying bills
- Collecting benefits/pensions
- Assisting with your property (selling/rentals)
The Property & Finance document can be used as soon as it is registered, with your permission.
The true cost of not having an LPA
| Application and first year costs | Price | Ongoing costs |
|---|---|---|
| Application fee | £432 | |
| Hearing fee | £266 | |
| Medical fee | £300 (average) | |
| Deputy Assessment fee | £100 per deputy | |
| OPG Supervision fee | £320 | £320 |
| Security fee | Between £100 and £400 per year | Between £100 and £400 per year |
| Legal representation | £1,020 (minimum) | |
| Management fee | £1,800 (minimum) | £1,420 (minimum) |
| £4,338 | £1840 |
These costs are per individual in comparison to Watson Hall charges of £590 (plus VAT and Registration Fee) to setup both Lasting Powers of Attorney.
Key considerations
- Without an LPA, Deputyship is required should you lose capacity. This does not allow you to choose who is appointed and comes with significantly high and ongoing court costs.
- Who to Appoint? This can be a spouse, other relative, friend or professional.
- It is important that you choose people who you can trust to act in your best interests, giving consideration to how they manage their own affairs.
Speak to us to discuss your circumstances and put in place the appropriate provisions.
