Matters to consider when making a Lasting Power of Attorney
The forms for both the Property & Financial Affairs LPA and Personal Welfare LPA require careful consideration.
Matters to consider when making an LPA
There are a number of very important issues to consider when completing the forms for both the Financial Decisions LPA and the Health & Care Decisions LPA all of which we will be able to assist you with at our consultation.
The decisions you make will have significant legal implications as to how your affairs are managed after you become incapable and as the donor - the person who is making the LPA – we will give you guidance on each of the following points:
Who you will choose to be your attorney. An attorney must be at least 18 years old. If you are making an LPA for property and financial affairs any attorney you choose must not be bankrupt.
How many attorneys you want. Normally at least two.
If more than one do you want them to act jointly and what will be the extent of their powers?
Whether you will need to appoint replacement attorneys.
Whether there any instructions you wish to include for your attorneys.
Whether you want to set out any preferences. Preferences are a statement of your wishes.
If you want your attorneys to be paid.
Whether you want anyone to be notified about registration of the LPA?
You will need a Certificate Provider. A Certificate Provider is a person who confirms so far as he/she is aware that you understand the nature and scope of the LPA and was not induced to make it by fraud or undue pressure. Your Certificate Provider must be an independent/impartial third party. Universal Wealth Preservation are happy to act as a Certificate Provider on your behalf.
The completed LPA forms will include your full details and those of your attorneys and must be signed by you, your attorneys and your Certificate Provider. Your LPA will not be valid unless it is in the prescribed form and properly executed.
How Universal Wealth Preservation can assist you
An LPA can be very flexible but it is important that you understand the legal implications, not only of making an LPA, but its effect.
As part of our estate planning services we assist clients with the completion of LPAs on a daily basis and can advise you on all the legal formalities. We have extensive experience of guiding clients through the process from taking initial instructions to registering the LPA with the Office of the Public Guardian.
If you are an attorney in need of legal assistance and/or advice in relation to your duties, we can help you to ensure you act in compliance with the legal obligations incumbent upon you in your capacity as attorney.
If you are considering making an LPA and require assistance with its preparation and registration or would like to review your estate planning arrangements generally, our team of experts are here to assist you. Contact us to arrange a FREE no-obligation home consultation with one of our advisers. We would be happy to discuss your requirements.
If you would like to book your place on one of our forthcoming Keep it in the Family seminars click here.