Have you thought who would manage your affairs if you became mentally incapable of handling things yourself? In that situation we can prepare a Lasting Power of Attorney (LPA).
This will enable the person giving the Power (whom we call the donor) to name one or more trusted relatives/close friends (or indeed a professional) to deal with their various aspects of their affairs should this be required in the future, including personal welfare.er in 2007.
Most clients prefer to discuss the matter in detail with us and we can then prepare the LPA in the appropriate form and ensure that it is validly signed by the client (“the donor”) and subsequently countersigned by the named attorneys. Once created an LPA has to be registered, and there are some costs involved with that process, but there are safeguards so that the donor can feel confident that the Attorney cannoy just do whatever they like. The donor has peace of mind, knowing that his or her affairs will be managed properly and in the donor’s best interest. A common misconception is that once the LPA has been signed, the donor has lost all rights over their financial affairs. That is not the case, whilst the donor is still capable of handling their own affairs, they can stop anything being done of which they disapprove.
In the unfortunate event that the donor becomes mentally incapable of handling their own affairs, then the attorney must apply to The Court of Protection for the appointment of a receiver who will then deal with the donors financial affairs, likewise if the person is unable to even make an LPA. We can help with the preparation and submission of applications to the Court of Protection.
We are happy to store completed LPAs (and indeed other documents such as wills and deeds) free of charge for our clients. Your contacts here are Claire Davis, Kathryn Richards and Sharon Boothby.