Sadly, it is often only when disaster strikes, be it an accident, injury, stroke or onset of dementia, that the reality dawns. Suddenly and without precedent, our elderly relative or loved one has lost the mental capacity to make their own judgments and decisions. The ability to manage household affairs is soon in jeopardy and serious complications can quickly ensue. Having a trusted person appointed and certified as a power of attorney can over-ride this difficulty. As it is impossible to obtain beyond the stage when the appointee is incapable of making such decisions, it is really sensible to plan in advance for such an eventuality. It is not dissimilar to the imperative to write a will when in sound mental health.
How long does it take?
Currently it takes 12 weeks to register a lasting power of attorney with the Office of the Public Guardian, so this is another compelling reason not to leave it until sickness or incapacity make it too late to submit. This is not to say that the registered person then assumes the running of affairs straight away. This only takes effect once it becomes obligatory to do so. In order to ensure that no-one is co-erced into making an LPA against their own wishes or under duress, a certificate has to be signed by another party. This will be someone known to the person, not a family member, for at least two years. A doctor, or health care professional would be a suitable candidate. All of the forms can be downloaded from the government website.
How much does it cost?
There are two sets of forms, one is for health and welfare, which can cover such areas as end of life care and whether or not to take the elective of do not revive in the event of being close to death. The other is for financial matters, including property. Each costs £120 to lodge and it is important to fill them out with attention to detail as errors will lead to rejection and the entire cost has to be met again.
Is professional assistance required?
Due to the forms being quite complicated many people prefer to use power of attorney services or to go through a solicitor. Those on low incomes or in receipt of benefits are entitled to reductions and/or exemptions in these fees.
How does the LPA make the switch?
Banks, building societies and all other financial institutions, which deal with the person’s monetary matters, will not automatically desist from dealing with the account holder until such time as they have seen either the original, or an authenticated copy, of the lasting power of attorney. No access to accounts in granted before this is checked. Again, this is worth taking into consideration in the timeframe as it may cause another slight delay before the registered attorney can commence their dealings. Other documentation will be required. This will include two forms of identification for the attorney, with at least one showing the current address, proof of your relative’s name and address and a signed attorney declaration form. This is provided by the bank.
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