Living power of attorney

dlk

I really wasn't sure where this would should be posted so apologies if it's the wrong segment.

I have a solicitor putting my will together who tried to persuade me to pay £399 to write a 'living power of attorney' so that me and my wife had power of attorney over each others affairs IF the need ever arises. I rejected this. He claims it will cost thousands to go through the courts to get power of attorney if we were to wait until someone is incapable of giving authority in this way. Does anyone have any idea of the true cost or is he just trying to pull a fast one and make an easy £399?

Keep_pedalling

Its Lasting Power of Attorney not living, but yes you would be wise to put them in place because the solicitor is correct, gaining these powers without an LPA in place is an expensive and long drawn out procedure that has to be don through the courts.

Assuming you live in England or Wales you can do this yourselves for £110 each.

https://www.gov.uk/government/publications/make-a-lasting-power-of-attorney

You do have to be careful in avoiding making mistakes that could invalidate the LPA, so if you you don't feel confident in doing these yourselves then use the solicitor.

Make sure you have at least one other attorney, preferable a child or younger freind, and don't go down the route of making your attornies act jointly, as if they can't agree, or one becomes unable to act for any reason the LPA will fail.

If you live in Scotland then things are not so straight forward, and you would be wise to use a solicitor.

dlk

Thanks, is this normal to have with no medical conditions while in your thirties??? I can't really nominate my child to act as attorney, she's 6.

Keep_pedalling

dlk wrote: »

Thanks, is this normal to have with no medical conditions while in your thirties??? I can't really nominate my child to act as attorney, she's 6.

It's not normal, but it is wise because it is not exactly unknown for younger people to be incapacitated through illness or accident and it can make things very difficult for their other half if they have no control of their partners finances.

We did ours in our early 60s on the advise of our IFA, but really should have don't it much earlier.

You could simply appoint each other as your main attorney and use a sibling or friend as a back up attorney. If you don't own property and have all your liquid assets in joint accounts it is probably not nessasary, but if you are house owners and / or have assets in your own name then get them done.

pinkteapot

They're becoming increasingly popular and I keep reminding the hubby that we should sort them out - and we're in our late 30s.

They can be useful in freak situations. For example, if one of you is in a serious accident and comatose, the other can't access any bank accounts etc in their name because the person isn't dead. Same goes for incapacitating illness. Even if someone ends up housebound for a period of time - the other can go into the bank and sort stuff out if need be.

You can apply for power of attorney if these things actually happen, but it's an extremely drawn out process (understandably they have to be careful before giving people PoA over people who can't speak for themselves any more). Doing it while you're fit and well is much easier.

Mojisola

dlk wrote: »

Thanks, is this normal to have with no medical conditions while in your thirties???

We did ours some years ago (under the old system) after I heard about the problems a young woman had after her husband was in a serious accident and left in a coma.

She wasn't working because they had a couple of very young children and the bank froze their accounts (which were all joint) in order to 'protect the other account holder's interests'.

She was reduced to borrowing money from family and friends at a very stressful time.

In addition to having POAs made, it's worth having some money in individually named accounts and with more than one bank.

Kynthia

It's one of those things you hope to never need, and not many need when they are young, but if you do end up needing it your are very glad it's there. Like most insurances in a way. It is commonly suggested now when a couple get a will as once it's done it's done, unless you want to change it like with your will.

I'd guess the health poa might be useful for couples who aren't married as it makes it clear who you want to make medical decisions for you should you be incapacitated, if it's not your legal next of kin. Plus the financial one again would be particularly useful should one partner not work (or not earn enough to pay tge bills) and the other has the income go into an account on their sole name as if they should be incapacitated how else would tge other get any funds?

GaryC71

A few notes on Lasting Power of Attorneys, Living wills and Advance Decisions (oh and the Mental Capacity Act 2005)


As this weeks newsletter from Martin states, there are 2 different types of Lasting Power of Attorney. 1 for your finances and property (LPA for Property and Affairs) and 1 for your health and social care decisions (LPA for Health and Welfare). It is important to note that unless you state that you want the LPA for Property and Affairs to start when you lack (the mental) capacity to make your financial decisions, then it will be 'active' once it is registered with the OPG (Office of the Public Guardian).


When it comes to medical decisions and your loved one, whether married or not, lacks the capacity to consent to the medical procedure, technically, it is not the next of kin's decision to make. The decisions technically lies with the surgeon, consultant, dentist, podiatrist, etc who is contemplating taking the action. They will speak to family and friends (or should do!) to find out what everyone thinks is in their best interests, but at the end of the day the decision is theirs not yours. People often think that it's next of kin, but it isn't.


The newsletter also mentions Advance Decisions and Living Wills and recommends you do these whilst writing your LPA. Beware, if you are writing a LPA for Health and Welfare and you already have an Advance Decision in place. If you do, your Advance Decision is no longer valid, as your LPA takes precedence, however, the person who you've given the power to should take this into account when making the decision on your behalf. (Advance Decisions are used so you can refuse treatment, more often than not, life-sustaining treatment, should you lack capacity in the future.) Living Wills are really a statement of wishes and have no legal backing (unless you have included an Advance Decision to refuse treatment in there), although they are useful for the decision maker, as it indicates to them what you would have done, or decided, if you had the capacity to make this particular decision now. The decision maker needs to give this some serious consideration and show their reasonable belief as to why they are not following your wishes, feelings, beliefs and values when making the decision in your best interests.


You have to be 18 to write an LPA and you must be the same age to be the decision maker (so you cannot have your child if they are 6 sign the LPA).


I train people in the Mental Capacity Act and Deprivation of Liberty Safeguards, so although not an expert, I know a thing or two :-)