Frequently Asked Questions about LPAs - Larcomes

1. 7/23/25, 12:38 PM Frequently Asked Questions about LPAs - Larcomes Portsmouth: 023 9244 8100     |     Waterlooville: 023 9224 6666 Services For You Home Services For Business About Us Blog Contact Us Frequently Asked Questions about LPAs Aug 5, 2024 | Mental capacity, News, Wills trust probate | 0 comments A Lasting Power of Attorney (LPA) is a legal document that enables an individual to appoint one or more people to make decisions on their behalf regarding specific aspects of their life should they lose the capacity to do so. Described by money-saving expert Martin Lewis as “more important than a Will”, LPAs are a powerful tool that allow you to plan for how your health and welfare and property and financial affairs will be managed if you lose the ability to make decisions for yourself. However, despite their importance, a recent survey revealed that four in five UK adults do not have an LPA in place, and 77% of the over 55s have not registered either type of LPA. Not having an LPA in place can cause di?culties for you and your loved ones. https://www.larcomes.co.uk/frequently-asked-questions-about-lpas/ 1/6

2. 7/23/25, 12:38 PM Frequently Asked Questions about LPAs - Larcomes In this blog, our experienced Lasting Powers of Attorney solicitors consider why LPAs are important and answer some frequently asked questions about LPAs. What is an LPA? An LPA is a legally binding document that allows an individual or individuals of your choosing (an ‘attorney’) to make certain decisions for you if you lose the capacity to make those decisions yourself. There are two main types of LPA: 1. Property and financial affairs. This LPA enables your attorney to make decisions related to your finances and property, for example, buying and selling a house, managing bank or building society accounts, paying household bills, and claiming pensions and other benefits. 2. Health and welfare. A health and welfare LPA covers decisions about health and welfare issues, such as medical treatments and care arrangements, including where a person should live and arrangements about their day-to-day care. What are the benefits of LPAs? Making an LPA affords numerous benefits, for both you and your loved ones. Advantages of LPAs include: 1. Protection. An LPA acts as a valuable insurance policy to protect you and your loved ones for a point in time when you might need it. 2. Control. Choosing your attorneys means you can appoint people you trust who will take decisions in your best interests. 3. Certainty. Registering an LPA in good time gives you the peace of mind that it is there if you need it. 4. Avoids con?ict. Making your wishes known reduces any potential for disagreement over your choices later on. 5. Reduces problems. Without an LPA in place, your loved ones will not automatically be able to make decisions about your wellbeing, or access your money, even if it is to pay for your care. Who needs an LPA? Everyone over the age of 18 and with mental capacity should make an LPA. LPAs help individuals of all ages and from all walks of life safeguard their future by putting in place adequate provision for what happens if they suffer from an illness or accident that means they lose mental capacity. What is capacity? https://www.larcomes.co.uk/frequently-asked-questions-about-lpas/ 2/6

3. 7/23/25, 12:38 PM Frequently Asked Questions about LPAs - Larcomes Mental capacity is defined as the ability to use information to make a decision and communicate that decision to others. Under the Mental Capacity Act, it is presumed that individuals have capacity until it is proven that they have not. Mental capacity can be lost for various reasons, on both a short-term and permanent basis, for example, if you are unconscious or because of mental health problems, or if you have an accident or are suffering from dementia. You may not need it anytime soon, and you may not use it at all, but the earlier an LPA is completed and registered, the better. An LPA provides security and protection and gives you complete control over your estate planning. How do you make an LPA? Currently, LPAs can be made online or on paper and are then printed off and submitted to the O?ce of the Public Guardian (OPG) to be registered. Do you need a solicitor to make an LPA? Although it is possible to set up an LPA yourself, the process is complicated, and it is easy to make mistakes. Making an error on the forms may mean your LPA is rejected by the O?ce of the Public Guardian (OPG) when you try registering it, or it is not valid when you need to use it. A solicitor can help in various ways, including: 1. Avoid mistakes. Private client solicitors have extensive experience creating LPAs and will ensure the relevant documentation is filled in correctly. 2. Legal expertise. Solicitors will ensure an LPA is tailored to meet your needs and that is properly drafted to be legally binding. In the event of declining mental health, a legal professional can advise on what you should do to prevent the validity of your LPA being challenged. 3. Part of estate planning. LPAs are not one-size-fits-all. It is crucial to seek specialist legal advice, particularly if your affairs are more complex, to ensure it provides you and your loved ones with all the protection you need. 4. Peace of mind. Using a regulated legal professional to write your LPA reassures you that is done correctly and provides an extra layer of protection. How much does it cost to make an LPA? Larcomes offers fixed fees on LPAs. Our rate for one Lasting Power of Attorney (property and financial affairs or health and welfare) is £450 plus VAT (costings correct as of August 2024). https://www.larcomes.co.uk/frequently-asked-questions-about-lpas/ 3/6

4. 7/23/25, 12:38 PM Frequently Asked Questions about LPAs - Larcomes For both LPAs for one person, we charge £750 plus VAT; for couples, all four Lasting Powers of Attorney can be made for £1,000 plus VAT. In addition, there is a compulsory cost of £82 to register a Power of Attorney with the OPG in England and Wales, with a discounted rate of £41 available to those earning less than £12,000 a year. Individuals on certain benefits are exempt from fees. For more information about Property and Financial Affairs LPAs, please contact Larcomes on 023 9244 8100 or click here to find out more. What happens if you don’t have an LPA? Many people believe that their spouse or other next of kin can automatically access their bank accounts and make decisions about their healthcare if they lose the ability to do so. This is not the case. The only guarantee that the people you want will have the authority they need to make the decisions you want is if you set up a Lasting Power of Attorney. If you lose capacity without an LPA in place, your loved ones may have to apply to the Court of Protection to be appointed as your ‘deputy’ to be able to make decisions on your behalf. This can be a costly and time-consuming process, adding extra stress at an already- di?cult time. It also means that you do not get any say on who is appointed to manage your affairs. Lasting Power of Attorney Solicitors A Lasting Power of Attorney can be just as important as writing your Will and should be made regardless of your age. Larcomes’ experienced Lasting Power of Attorney Solicitors can provide the expertise and guidance surrounding all areas of LPAs and the Mental Capacity Act. Please call 023 9244 8100 or fill in our LPA Questionnaire to find out how we can help you. Please note that this article is not intended as legal or professional advice. It is for general guidance only, and updates to the law may have changed since it was published. Search Search https://www.larcomes.co.uk/frequently-asked-questions-about-lpas/ 4/6

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