There are various common misconceptions about why Lasting Power of Attorney (LPA) may not be necessary.
“I don’t Need LPA because my Next of Kin can make Important Decisions on my Behalf”
Myth! Nobody can act or make decisions on your behalf if they have not been legally authorised to do so via the Office of the Public Guardian or the Court of Protection.
“My Will has Appointed Executors, so they can Make Decisions for me”
Myth! A Will is entirely separate to LPA. Executors appointed in a Will only have the power or authority to distribute your estate as requested and in line with your Will and ONLY AFTER your death. They have no authority to make decisions on your behalf during your lifetime.
“I do not Need to Consider LPA until I Become Elderly and/or Suffer with Poor Health”
Myth! LPA can be made by anyone over the age or 18 who has full mental capacity. Someone may subsequently lose their mental capacity or no longer be able to make decisions due to an accident, being in a coma or other mental illness.
The sooner you put LPA in place the better, as you then know provisions have been made in case you subsequently lose your mental capacity. If you do not arrange LPA and lose your mental capacity, then it will be too late to arrange LPA and your loved ones will need to then apply for limited decision-making power from a court known as the Court of Protection (COP). This is not only a time-consuming process, but also an expensive one because you are then unable to agree to it.
“Once my LPA is Registered with the Office of the Public Guardian (OPG), it means Someone can then Immediately make Decisions for me and I do NOT want that”
Myth! LPA is only effective if you have either lost your mental capacity OR you provide express permission for someone else to act upon your behalf whilst you maintain your mental capacity. Otherwise, your appointed attorneys have no power to act upon your behalf.
“Getting an LPA is Expensive”
The maximum cost of arranging and registering LPA through TRF Wills is currently (November 2022) £294.00 including court application fees. If you earn below £12,000 per year, then this figure reduces to £212.00 and if you receive qualifying means-tested state benefits, then this cost reduces further to £130.00.
In comparison, if you arrange LPA through a High Street or city centre solicitor firm, or you fail to arrange LPA and subsequently lose your mental capacity, then the costs will be significantly greater.
“My partner and I have Joint Bank Accounts, we do not Need LPA”
Myth! This is always the most alarming to couples when they learn that even if they have a joint bank account, this does not mean their partner will be able to automatically access funds to pay for bills, mortgage, or general expenses. If a spouse or partner were to lose their mental capacity, then the bank can remove access and freeze the account until they (the bank) receive a copy of either a previously registered LPA or a subsequent order from the Court of Protection. This can generate great difficulty for a spouse or partner as a result.
For further details about Lasting Power of Attorney WITHOUT fear of consultation fees or obligation, then please visit our Power of Attorney page.
TRF Wills (TRF) was created by Michael Cotterill in 2005. He is a member of the Society of Will Writers and registered with the Information Commissioner’s Office.