Lasting Powers of Attorney (LPA's) at Affordable Prices across North & East London plus Essex & Hertfordshire
Lasting Power of Attorney - 'Property and Financial Affairs'
A Property and Financial Affairs Lasting Power of Attorney (LPA) allows your Attorney to make decisions on your behalf about your property and financial dealings, including paying your bills, collecting your income and benefits or selling your house subject to any restrictions or conditions. It does not allow your Attorney to make decisions about your personal welfare.
You can appoint a Property and Financial Affairs Attorney to manage your finances and property while you still have capacity as well as when you lack capacity. For example, it may be easier for you to give someone the power to carry out tasks such as paying your bills or collecting your benefits or other income. This might be easier for lots of reasons: you might find it difficult to get about or to talk on the telephone, or you might be out of the country for long periods of time.
What will a Property and Financial Affairs LPA let the person I have chosen do on my behalf?
A Property and Financial Affairs Attorney, using a registered LPA, will be able to make exactly the same kind of decisions you can make now about your money and property. The person will only be able to make decisions within the scope of the powers you have given them and these decisions might include:• buying or selling any property (land, buildings or other assets) you own;
• opening, closing or operating any bank, building society or other account containing the your funds;
• claiming, receiving and using all benefits, pensions, and allowances, on your behalf.
What are the safeguards?
An LPA is a very powerful legal document and it is important to remember that the person you appoint as your Attorney, unless you have included restrictions in your LPA, will have the same control you have over your money, savings, any investments and property. When choosing an Attorney, it is important that you're confident that they know what you want and that you're comfortable that they'll be making decisions on your behalf. However, there are safeguards to protect you. Safeguards already built in to an LPA include:• the requirement that the LPA must be registered with the Office of the Public Guardian (OPG) before use;
• the requirement to identify someone to provide a Part B Certificate ( the 'Certificate Provider') confirming, amongst other things, that you understand the purpose of an LPA and the scope of powers you are giving to your Attorney(s);
• that certain persons chosen by you called 'named persons' are notified before registration of the LPA;
• the requirement for the signatures of the Donor and Attorney(s) to be witnessed;
• the right of specific people (you, the Attorney(s) and named persons) to object to registration of an LPA; and
• your Attorney(s) must have regard
to the Code of Practice, which provides guidance on the Mental Capacity Act 2005. The Code makes it clear that Attorneys must always act in your best interests.
• you can include restrictions or conditions in the LPA, which your Attorney(s) must follow - for example, you may include a condition that your Attorney(s) must keep accounts and that they are to submit these accounts to someone of your choice such as a family member or professional; and
• you can also give guidance in your LPA which your Attorney should take into account when making decisions on your behalf.
I've been asked to be a Property and Affairs Attorney? What duties would I have to carry out?
The Mental Capacity Act 2005 imposes some specific duties. When acting under an LPA you have a duty:• to act in accordance with the Act's principles;
• to act or make decisions in the Donor's best interests;
• to have regard to the guidance in the Code of Practice; and
• to act only within the scope of your authority as Attorney.
When agreeing to act as Attorney under an LPA you are taking on a role that carries a great deal of power which you must use carefully and responsibly.
Other duties and obligations set out in the Code of Practice include:
• a duty
of due care when making decisions on behalf of the Donor;• to carry out instructions as required by the LPA;
• a duty not to delegate the powers given to you under the LPA unless you have been authorised to do so;
• not to benefit yourself but to benefit the Donor, this means avoiding conflicts of interest and in particular not to profit or acquire personal benefit from your position;
• a duty of good faith, and to act with honesty and integrity;
• a duty of confidentiality, and to keep the Donor's affairs confidential unless the Donor has consented otherwise;
• to comply with the directions of the Court of Protection;
• not to give up the role without telling the Donor and the Court;
and specifically in relation to Property and Financial Affairs LPAs:
• to keep the Donor's money and property separate from your own; and
• to keep accurate accounts on all of your dealings as Attorney.
If you do not perform your duties properly, you may be ordered to compensate the Donor for any losses they have suffered as a result. Anyone ill-treating or wilfully neglecting someone who lacks capacity they have care of, or to whom an LPA appointment relates, can be found guilty of a criminal offence. The penalty for such an offence is a fine and/or a sentence of imprisonment of up to five years.
For advice on Lasting Power of Attorneys please contact us by email (and we'll call you back), or call us direct on 0208 886 2344.
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For the Raising and Regsistration of Lasting Power of Attorney (LPA) Forms our Home Visit Service extends to the following Towns in Essex & Hertfordshire:
Essex: Basildon, Benfleet, Billericay, Braintree, Brentwood, Canvey Island, Chelmsford, Clacton-on-Sea, Colchester, Dagenham, Epping, Frinton-on-Sea, Grays, Great Dunmow, Halstead, Harlow, Harwich, Hornchurch, Ilford, Leigh-on-Sea, Maldon, Ockendon, Ongar, Purfleet, Rayleigh, Romford, Southend-on-Sea, Stanford-le-Hope, Stansted, Thurrock, Tilbury, Walton-on-the-Naze, Westcliff-on-Sea, Wickford, Witham.
Hertfordshire: Abbots Langley, Arlesey, Baldock, Barnet, Bayford, Berkhamsted, Bishop's Stortford, Borehamwood, Brookmans Park, Boxbourne, Buntingford, Bushey, Chalfont St. Peter, Cheshunt, Chorleywood, Codicote, Cuffley, Elstree, Essendon, Flamstead, Goff's Oak, Hadley Wood, Harpenden, Hatfield, Hemel Hempstead, Hertford, Hitchin, Hoddesdon, Kimpton, Kings Langley, Knebworth, Letchworth, London Colney, Northaw, Potter Bar, Radlett, Rickmansworth, Royston, Sawbridgeworth, South Oxhey, St. Albans, Stanstead Abbotts, Stevenage, Tewin, Tring, Ware, Watford, Welham Green, Welwyn, Welwyn Garden City, Wheathampstead.
For Fixed Fee Probate & Estate Administration:
All Greater London postcodes, Essex and Hertfordshire plus affiliated Fixed Fee Probate Consultants across England & Wales.
Lancaster Wills & Trusts is an Associate Member of the 'Society of Will Writers and Estate Planning Practitioners' and complies fully with their Code of Practice. This Code is currently before the Office of Fair Trading for approval and has been drafted in consultation with Age Concern, LACORS and the Citizens Advice Bureau.