Who Would You Trust With Your Future? Why LPAs Matter More Than You Think

When we think about planning for the future, we do not tend to consider the possibility that we may lose mental capacity. It’s important that when planning for the future we ensure there are mechanisms in place to ensure our health and wealth can be managed should we be unable to do so ourselves.

Lasting Powers of Attorney (LPAs) are important legal documents appointing individuals to make health and wealth decisions on your behalf should you lose the ability to do so yourself.

If you lose capacity without having prepared LPAs, those closest to you must go through the Court of Protection and apply for a Deputyship Order. Albeit the process is there to protect vulnerable individuals, it is costly, time-consuming and can be emotionally draining. It is essential to act whilst you can and prepare LPAs now to avoid the Deputyship process. Here is why you should do everything you can to avoid this process:

• The Court of Protection (COP) currently charges £421 to submit the Deputyship application. In addition to this cost, there are also solicitor’s fees should you require legal assistance, the annual supervision fee and the fees associated with taking out a security bond.
• To register an LPA, the Office of the Public Guardian charges £82 per document. There will also be your solicitor’s fees should you require assistance from a legal professional in setting up the LPAs.

• Applications to the COP can take anywhere from 9 months to a year, sometimes even longer. During this time, access to bank accounts will be restricted and many bills can go unpaid. Your affairs can only start to be managed once the Deputyship Order has been granted, appointing deputies to act on your behalf.
• If an individual has LPAs in place, their attorneys can act immediately once the LPAs have been registered. Once LPAs have been signed and sent to the Office of the Public Guardian for registration, the current timescale for registering LPAs is approximately 10 weeks. 

• When applying for a Deputyship Order there are many forms you are required to complete and submit to the COP. These include, but are not limited to, forms COP3, COP1, COP1A, COP4, COP14PADep and COP15PADep.
• The only forms required when preparing LPAs are the Property & Financial Affairs LPA and the Health & Welfare LPA. The LPAs are much more straightforward to complete than the COP forms. 

• For Deputyship applications, you do not have a say in who is appointed as your deputy. It could be the case that your deputy is someone who you would not want to manage your affairs. In some cases, a professional deputy (such as a solicitor or local authority) may be appointed – at your expense!
• With LPAs, you choose who acts on your behalf. You have complete freedom to appoint anyone of your choice to act as your attorney. Deputyship does not give you the option to choose who manages your affairs.

• Deputies are subject to more oversight, tighter controls, and more paperwork when it comes to making decisions for you. Often, deputies will require permission from the COP to make significant decisions such as making gifts or selling property. This can be extremely cumbersome and frustrating for your loved ones.
• LPAs give your chosen attorneys more flexibility to manage your affairs and make day-to-day decisions. There is much more freedom for attorneys under LPAs to make decisions than deputies under a Deputyship Order.