Partner Kieran Bowe was featured on BBC Radio Surrey giving ‘sound advice’ to presenter Sarah Gorrell on lasting powers of attorney (LPA). From 1:40:00 onwards, Kieran and Sarah discuss the legal process of LPA, including the types available and the best time to consider drafting one.
Kieran defines an LPA as a legal document that allows you to appoint one or more individuals to make decisions on your behalf when you are no longer able to do so, and explains that there are two types of LPA: one relating to finance and the other relating to health and welfare.
When is the best time to draft an LPA?
Kieran advises that the earlier you decide to make an LPA and secure an individual to appoint the better, as this will enable you to make clear, informed decisions concerning your future.
He cautions that it is prudent to consider your financial obligations ahead of time and how those obligations can continue to be met in a worst case scenario; thinking ahead and planning are key.
What happens if I don’t make one?
If you haven’t made an LPA and no longer have capacity to make decisions yourself, the only remaining option is for a family member or court appointed deputy to go via the Court of Protection to have an individual appointed to manage your affairs on your behalf. He adds:
What people often don’t appreciate is that even if you’re married or in a civil partnership, if your partner has lost capacity you do not have the legal right to access their funds, and the banks will not facilitate that without a legal document in place to ensure you can.”
How do I make an LPA?
The forms required to draft an LPA can be sourced online or over the phone from the Office of the Public Guardian. You may want to seek the support of a solicitor to ensure that you are completing the forms correctly, especially if your affairs are complex, or consult online resources.
The full conversation can be found on BBC Radio Surrey’s website (content available until 22nd May 2024.)
Kieran Bowe is a partner in the private client team advising on tax, estate and succession planning. He is an expert in lasting powers of attorney, enduring powers of attorney and court of protection matters.
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If you would like to speak with a member of the team you can contact our private client solicitors; Holborn office +44 (0)20 3826 7522; Kingston office +44 (0)20 3826 7529, Putney office +44 (0)20 3826 7515 or complete our form.
