Married Couples and LPA

royP_2

As a married couple where everything is held in joint names, is there any need for an LPA as both parties have access to any finance and have a say in any health decisions that may need to be made?
I would assume that if one party dies then an LPA would be best.

JGB1955

What if you both 'lose capacity' simultaneously?  Unlikely, but not impossible. Who would you want to make financial and/or medical decisions in that scenario?  For the peace of mind that £82 ( x 4) gives you, it's money well spent in my opinion.

Linton

royP_2 said:

As a married couple where everything is held in joint names, is there any need for an LPA as both parties have access to any finance and have a say in any health decisions that may need to be made?
I would assume that if one party dies then an LPA would be best.

No ISAs?  ISAs cannot be in joint names.
What about utility bills, insurance bills etc?
Pensions (state/personal/employer) cannot be in joint names.
If you dont have an LPA set up and one of you loses capacity to make financial decisions it may be very difficult for the other one to discuss their spouse's affairs with a company or government department because of data protection.  Setting up deputyship after someone loses capacity is an expensive and lengthy process involving the Court of Protection.

royP_2

Thanks both, i've got the message.
Is it easy to do on your own or is it better to use 'Which' or a solicitor?

smutput

royP_2 said:

Thanks both, i've got the message.
Is it easy to do on your own or is it better to use 'Which' or a solicitor?

Easy to do online. Just print off to sign and send off to register