Lasting Powers of Attorney

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We have written previously about Powers of Attorney for use in Spain.

However, many people have assets in the UK as well as in Spain. The new rules introduced in England  to create the so-called “pension freedom” mean that often a  fund is able to be drawn down to provide an annual income and a necessary part of that is the ability to give written instructions to the fund holder.

Failing to set up an English lasting power of attorney (LPA) in advance can result in families having to face costly legal procedures to take charge of a loved one´s financial affairs. Putting an LPA in place means that trusted people nominated by you as attorneys can make decisions about your property and finances if you become incapacitated, either physically or mentally, in the future. Mental incapacity can arise not just as a result of dementia but through other conditions such as a stroke.

There are two types of LPA; the first regulates your property and finances (paying bills, dealing with your tax affairs and pensions etc.) and the second type covers your health and care (including the care and treatment you may need). It is common to set up both types to cover every eventuality.

There is a registration fee of £110 to register an LPA. You must be mentally capable when you set up the LPA and a professional (doctor or lawyer) or someone independent who has known you for at least 2 years must sign off the form.

Express Legal Solicitors offer a free initial consultation on all aspects of granting Powers of Attorney and can assist with completion of the forms, legal sign off and registration.