How do you set up an LPA?
The process of setting up an LPA is relatively straightforward.
You may choose to opt for the “DIY” application. However, this should be considered with caution, as the legal advice of an expert who is fully aware of the legal implications is usually what turns what would otherwise be a document with a few names and signatures into a bespoke document which is future-proof and in most cases, protects your wishes and your assets against abuse.
This is certainly an example of “you get what you pay for” as expert guidance and advice provides peace of mind and offers an added layer of protection against uncertainty and the potential for future abuse of power.
At Solomons, there are five steps involved in the preparation of your LPA:
1. Call us and/or attend the office or ask for a home visit from one of our friendly experts.
2. Meet to discuss:
- Who you wish to appoint as your Attorneys (remember you can have more than one and they can be different for each LPA, whether Health and Welfare or Finance and Property;
- We will ordinarily be able to act as your “certificate provider” – which means confirming you have the capacity to make this document;
- What your main wishes, concerns and objectives would be in the event you lose capacity in the future and how the LPA can be personalised to meet those wishes and objective and address any concerns;
- Ascertain the nature and value of your assets and financial “habits” (such as regular gifting to relatives; charities etc) and whether bespoke legal clauses would be required to enable your attorney to manage your affairs effectively and in the way you would do yourself if you were able;
- Generally “fine tuning” any special provisions which deal with future “ifs and buts”
3. We will send you a draft outline of the documents to ensure that you are happy with all the provisions before the LPAs are finalised. If not, we will make any final tweaks and arrange for you to sign the documents ready to send to the office of the Public Guardian for registration.
4. We oversee compliant signing of the LPAs by you and your Attorneys and send the LPAs off for registration.
5. When we have received the registered LPAs, we will safely store the originals in accordance with our safeguarding policy and provide you with certified copies.
If you would like Solomons Solicitors to help you to set up and register your Lasting Power of Attorney, please contact Alexandra Livesey or Paul Solomons on 01202 802807; we will be happy to advise you.