Lasting Power of Attorney

Have someone to rely on

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If you lose mental capacity without an LPA in place, it will be necessary for your family to apply to the Court of Protection to have a deputy appointed to deal with everyday financial matters. This is a slow and very expensive process, costing thousands of pounds. If you already have an LPA in place, this will not be necessary.  Don’t worry – Honey are here to help and can guide you through the LPA process.

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What is a Lasting Power of Attorney?

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• If you are unable to manage your own affairs, an LPA (Lasting Power of Attorney) appoints someone of your choice to do it for you. There are two types of LPA:

• A Property and Financial Affairs LPA allows your chosen person to handle your bank accounts, investments, bills and property.

• A Health and Welfare LPA covers decisions about your health and care.

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Why should I have one?

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• Health conditions such as Dementia, Parkinson’s disease, or a stroke can cause making decisions to become virtually impossible.

• If you lose mental capacity without an LPA, it can cost your family time and thousands of pounds to be given permission to handle your affairs.

• Without an LPA, any joint bank accounts you hold with your partner could become severely restricted.

• This can be devastating, especially if the joint owner has their income or pension paid into this account, or they use it to pay critical bills such as a mortgage or utility costs.