The important thing to remember is that you cannot set up or prepare power of attorney on someone else’s behalf. When you prepare a lasting power of attorney, you are named the ‘donor’. This refers to the fact that you are giving the power to make decisions on your behalf to someone else, i.e. the attorney/ attorneys. It is therefore extremely important that you begin this process while you still have sufficient capacity to make the relevant decisions in this matter.
Power of attorney is not just for the old and those with health complications; in fact, I would suggest that considering an LPA at that point is almost too late. I would always advise clients with any assets in their sole name to ensure they consider preparing lasting powers of attorney to ensure that they can be properly accessed and administered in the event they were unable to do so themselves.
Jobeth Copping-Barrett, Solicitor
The process of preparing a lasting power of attorney, goes as follows:
- Choose an attorney
Your attorney/attorneys should be someone you trust to make decisions on your behalf. It can be a family member, friend, or professional such as a solicitor.
- Fill out the forms
The forms to set up an LPA can be obtained from the Office of the Public Guardian. The forms will require information about you, their attorney(s), and your wishes.
- Register the LPA
Once the forms are completed, you will need to register the LPA with the Office of the Public Guardian. There is a fee for this service. The LPA is not valid until it has been registered.
Important considerations
In the event you are considered as no longer having sufficient capacity, it is too late for a power of attorney application. Instead, loves ones will be required to apply for a deputyship. This is significantly more complicated and onerous., by comparison. As a result, if you are considering estate planning or future proofing your circumstances for the benefit of yourself and your loves ones, I would always encourage you to prepare a lasting power of attorney.
The peace of mind a registered LPA provides, can alleviate stress and worry for yourself and your loved ones. We all hope that an LPA will never be needed however, in the event the circumstances arise, it is a protracted administrative process that has already been properly completed.
Setting up an LPA is an important step in ensuring that your affairs are managed properly if you become unable to make decisions for yourself. It can provide peace of mind for both you and your loved ones and can avoid costly and lengthy legal processes.
Jobeth Copping-Barrett, Solicitor
If you are considering setting up an LPA for your elderly parents, seek legal advice from a family law solicitor who can guide you through the process. Contact Sinclair Law Solicitors today to schedule a free 30-minute consultation and learn more about your options for helping your parents set up an LPA.