Regency Wills

Lasting Power of Attorney

What is a Lasting Power of Attorney?

A Lasting Power of Attorney (LPA)

Property and Financial Affairs allows your nominated Attorney/s to deal with your financial affairs should you no longer have mental capacity to do so for yourself. This could include managing your bank accounts, buying and selling your property and paying your bills

Health and Welfare allows your nominated Attorney/s to make decisions about your Care, Health and Welfare where you become unable to deal with such matters yourself

The Alzheimer’s Society predicts that more than 1 million people in the UK will have dementia by 2025

What are the risks if I don’t have an LPA?

If you lose mental capacity your family will need to apply to the Court of Protection to apply for the role of deputy to deal with your financial affairs. This can slow down any financial decisions you would like them to as they can only act within the restrictions imposed by the court. The deputyship process can be time consuming and expensive and ongoing court supervision fees must also be paid

All of my bank accounts are joint accounts so I should be fine?

Unfortunately that is not the case, joint accounts can be severely restricted if one of the joint account holders loses capacity. The law states that not even the spouse or civil partner has the right to make financial decisions on behalf of their incapacitated partner without a registered LPA or the consent of the Court of Protection

Is it straightforward to set up an LPA?

Yes its very straight forward to set up whilst you have full mental capacity. We will act as your certificate provider and both LPAs can be set up for a nominal amount of £700 and the additional cost to register these with the office of the Public Guardian is currently £82 each

For a free telephone consultation with a qualified Financial Adviser Call Regency Wills

(Agents of The Right Will)

0208 350 4515
07943828939
haidee@regencywills.co.uk

Geographic Areas we cover:

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Winchmore Hill, Palmers Green, Bounds Green, Southgate, New Southgate, Friern Barnet, New Barnet, Barnet, Whetstone, Totteridge, North Finchley, Finchley, East Finchley, Hendon, Mill Hill, Edgware, Stanmore, Golders Green, Muswell Hill, Fortis Green, Highgate, Highbury, Islington, Holloway, Stroud Green, Crouch End, Hornsey, Turnpike Lane, Stamford Hill, Clapton, Wood Green, Haringey, Enfield, Edmonton, Tottenham, Chingford, Walthamstow, Leyton, Leytonstone, Forest Gate, Plaistow, East Ham, Barking, Ilford,Hornchurch, Romford, Hainault, Chigwell, Wanstead, South Woodford, Woodford, Buckhurst Hill, Loughton, Waltham Abbey, Waltham Cross,Cheshunt, Broxbourne, Hoddesdon, Ware, Hertford, Cuffley, Potters Bar.

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