When should I make an LPA?

Many of us are guilty of putting off until tomorrow action we know should be taken today.

Mental and physical incapacity can become a problem at any time, which is why it is recommend to plan ahead, limiting the burden on those who may need to look after your interests.

You can only make an LPA when you have sufficient mental capacity. Many people consider writing an LPA when they write their Will as part of planning for the future. You can cancel or rewrite an LPA if your circumstances change, however, there can be significant costs if you do not have an LPA in place.

 

What if I don’t make an LPA?

If you should suffer an unexpected accident or illness and you do not have an LPA in place, your family might be faced with practical difficulties at a time of crisis and possibly a large bill in order to keep your affairs in order.

If you do not have an LPA in place, then it may be necessary to apply to the Court of Protection for a Deputyship order. This is more expensive, cumbersome and takes time.

Currently, the court application fee is £365 and the court hearing fee is £485. This is before you have taken into consideration the legal cost of making this application. Deputyship applications are more complex than an LPA and legal advice is often required, which is another additional cost.

Currently, it takes around 4 – 6 months to obtain a Deputyship, in which time no-one will have legal authority to make any decisions regarding your health, welfare or finances.

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Need advice? Email us enquiries@terry-jones.co.uk