How to Apply for Lasting Power of Attorney/LPA? Setting Up, Registration, and Charges
If you know or think that it is going to be difficult for you to manage your money in the future, it is best to put some measures in place now so that someone you trust can do it for you. Setting up a Lasting Power of Attorney/LPA will give you peace of mind. If you are aged 18 or over and have the mental capacity to make medical, property, and financial decisions for yourself, you can arrange for someone to take charge of your affairs in the future. In this post, we explain how to apply for Lasting Power of Attorney/LPA, including the fees, registration, and different types available.
How to Apply for Lasting Power of Attorney/LPA
It is a legal document qualifying someone to act on your behalf, or make decisions for you, if you no longer have the mental capacity to do so, or if you don’t want to make your own decisions anymore.
Types of Lasting Lasting Power of Attorney/LPA
The significant differences between the types of LPA are the decisions they cover:
- Health and welfare (form LP1H), or
- Financial (form LP1F)
A health and welfare lasting Lasting Power of Attorney/LPA enables someone to make decisions about your personal wellbeing; for example, the person has the power to make decisions regarding whether you move into a care home, the medical treatment you receive, etc.
A property and financial lasting Lasting Power of Attorney/LPA, on the other hand, enables an individual to manage all your financial affairs; for example, buying and selling property and investments, managing your tax affairs, running your bank accounts, and more.
Registering a Lasting Lasting Power of Attorney/LPA
When considering how to apply for Lasting Power of Attorney/LPA, you need to understand that it has to be registered before it comes into force.
- Choosing your attorney
The attorney you choose should be someone you really trust. When filling in the form, you will be asked to provide details of the attorney you are appointing and the power you want to grant them. We recommend that you choose more than one attorney. This way, you can determine the capacity in which you wish them to act – jointly or jointly and individually. Your attorney could also be a company, such as a bank. You can also choose a replacement attorney in case the other attorney can no longer act for you.
- Attest the LPA forms
You need to get signatures from each of the attorneys you have chosen and from other ‘certificate providers’ such as your doctor who attests to your mental wellbeing. Before the forms are submitted, they need to be signed by the attorneys, the witnesses, and you.
- Submit the LPA form to the Office of the Public Guardian with payment
It can take roughly 8-10 weeks to register a Lasting Power of Attorney/LPA. You need to submit the forms to the OPG once they have been verified and signed. In England, Wales, and Scotland, you have to register the LPA before you can use it. The registration cost for each LPA is £82 in England and Wales, and £75 in Scotland.
- Send notification form (form LP3) to ‘people who need to know’
Once you have submitted the LPA forms for registration and paid the fees, you will be asked to notify people who should know that you have applied for a Lasting Power of Attorney/LPA. You need to distinguish those people and send them the LP3 forms. Once they know that you have applied for an LPA, they have three weeks to share their concern regarding your LPA with the Office of Public Guardian.
- Register Lasting Power of Attorney/LPA
The OPG will review your LPA forms, and once they are satisfied, they will send a stamped copy of the Lasting Power of Attorney/LPA to your registered address, stating that your request for an LPA has been accepted and registered.
Ensure that the document is embossed with the OPG stamp. Without the seal, your Lasting Power of Attorney/LPA is not valid and can’t be used.
Cancelling Lasting Power of Attorney/LPA
If your LPA application has been registered, you can cancel it at any time. However, at the time of requesting cancellation, you must convince the OPG and the attorneys that you are taking this decision with the right mental capacity.
A Lasting Power of Attorney/LPA will automatically terminate if:
- The donor or attorney dies
- The donor or attorney goes bankrupt
- The attorney lacks the mental capacity to make decisions
This was our complete guide to how to apply for Lasting Power of Attorney/LPA. If you have any queries regarding the registration process, fees, or any other aspect that needs to be sorted out, feel free to ask us.