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LPA - PROPERTY & FINANCE
Lasting Power of Attorney (LPA) are used to protect you whilst you are living. A Property and Finance LPA relates to your home, your money, your savings and your income. During your lifetime, should you become unable to make decisions regarding these concerns, the LPA enables your Attorney (your trusted person or people) to make your decisions for you.
Lasting Powers of Attorney are just as important as a Will. Having an LPA in place ensures you, your finances and property are managed according to your wishes, should something happen which prevents you from dealing with these issues yourself, or if you need some help with this.
For Lasting Power of Attorney relating to your health and welfare, please read our specific Health & Welfare LPA page.
Lasting Powers of Attorney explained - an insight into the benefits of putting in place a Lasting Power of Attorney
During our lifetimes, unforeseen circumstances can easily occur. LPAs commonly get used:
Without an LPA even a spouse cannot always access required information about your personal finances. Common scenarios such as where a car crash has left an individual in hospital and the spouse cannot access bank accounts, car insurances, policies etc as they are not named, regularly occur.
'Recently my elderly mother in law needed a will written. After some research online I contacted Helen Algar at Suffolk Will Services. Helen is really nice, made mum feel at ease straightaway, and the whole service was totally professional. We’re happy to pass on our positive experience with Helen, and recommend Suffolk Will Services without hesitation. Hoping this will help anyone who might be needing a Will written and is putting it off (as we all do!)”
“I am so grateful for being recommended Suffolk Will Services by a friend. Helen was so wonderful and understanding of my situation, she met a very quick deadline to make a Will for me before my operation. The whole concept was daunting to me but Helen made it clear, simple and was always keeping me updated which was great. I will definitely be recommending Suffolk Will services to family and friend. Helen, thank you for helping me and bringing peace of mind”
Mrs C
“I am so grateful for being recommended Suffolk Will Services by a friend. Helen was so wonderful and understanding of my situation, she met a very quick deadline to make a Will for me before my operation. The whole concept was daunting to me but Helen made it clear, simple and was always keeping me updated which was great. I will definitely be recommending Suffolk Will services to family and friend. Helen, thank you for helping me and bringing peace of mind”
Mrs C
Varified review on google
'Recently my elderly mother in law needed a will written. After some research online I contacted Helen Algar at Suffolk Will Services. Helen is really nice, made mum feel at ease straightaway, and the whole service was totally professional. We’re happy to pass on our positive experience with Helen, and recommend Suffolk Will Services without hesitation. Hoping this will help anyone who might be needing a Will written and is putting it off (as we all do!)”
Mr M
'Recently my elderly mother in law needed a will written. After some research online I contacted Helen Algar at Suffolk Will Services. Helen is really nice, made mum feel at ease straightaway, and the whole service was totally professional. We’re happy to pass on our positive experience with Helen, and recommend Suffolk Will Services without hesitation. Hoping this will help anyone who might be needing a Will written and is putting it off (as we all do!)”
We have created a simple process to ensure your LPA are easy to create and understand, without any essential elements missing:
Suffolk Will Services is based in Ipswich, Suffolk and has clients throughout Suffolk; North Essex and South Norfolk. Helen can visit you in:
Yes, each LPA you register costs £82; eg, if a couple register for all four LPAs, the OPG fees will cost you £328.00. This is in addition to our costs to write them for you. An exemption or discount of the OPG registration fee may be applicable, and this is dependent upon your income.
For all of our prices please read our Pricing page
This means an individual’s ability to make a decision. It is the person’s ability to carry out the decision-making process that is important, not their final decision. People who are deemed unable to carry out the process will be considered as lacking in mental capacity.
According to the Mental Capacity Act 2005, set out in section 2 (1) this is when, ‘a person lacks capacity in relation to a matter if at the material time he is unable to make a decision for himself in relation to the matter because of an impairment of, or a disturbance in the functioning of, the mind or brain.’
In other words, does the individual have an impairment of, or a disturbance in the function of the mind or brain? And, does the impairment or disturbance mean the person cannot make a specific decision? If the answer to these are yes, then Power of Attorney will be called upon by the Attorney(s) to help ensure an individual’s wishes are carried out correctly.
Who you choose to act on your behalf is entirely your choice. Often people ask one or two family members, but others prefer to choose a close friend to be their Attorney. Ultimately, choose a person or people you know you trust and are happy will act according to your values and wishes.
Under a Property and Financial Affairs LPA you can decide when the LPA can be used on your behalf. It can be used if you cannot make a decision yourself. There is the option in the LPA where you select whether it can be used under your direction. This caters for situations where you can, and do, make your own decisions but you need some practical help (for example going to the bank). It also enables a person who is housebound to be supported and helped by their Attorneys.
The Attorneys you choose under an LPA will step in to act on your behalf, in your best interests, at the point when you are unable to make a decision about your own finances.
When that occurs, your Attorneys have to comply with the Mental Capacity Act 2005 Code of Practice. To safeguard individuals, the Court of Protection and Office of the Public Guardian can check that your wishes are being carried out correctly. They also carry out visits and investigate to ensure your Attorneys are acting correctly on your behalf.
Yes, it is completely up to you whether you allow your Attorney (s) to make all decisions on your behalf, or if you wish to have restrictions put in place.
Yes, if you have been appointed under a Lasting Power of Attorney you can sell property on behalf of the person who appointed you – provided there are no restrictions set out in the LPA.
Lasting Power of Attorney end at the time of your death. Your Attorneys will then no longer be able to make decisions on your behalf, and your estate will be governed according to the wishes you set out in your Will.
Call us today and get your Lasting Power of Attorney written your way
Property Protection Trust [Link to factsheet]
Vulnerable Person Trust [Link to factsheet]
Discretionary Trust [Link to factsheet]
Flexible Life Interest Trust [Link to factsheet]
Tel: 01473 808499
Email: info@suffolkwillservices.co.uk
Monday to Thursday: 9am - 5pm
Friday: 9am – 2pm
Early evening and weekend appointments available by prior arrangement
3b Lower Farm Park
Norwich Road
Barham
Ipswich
IP6 0NU
WILLS | LASTING POWER OF ATTORNEYS | PROBATE ADVICE