Is it worth having a Lasting Power of Attorney?

An LPA enables you to choose trusted individuals to handle your affairs for you and in your best interests. The alternative is for the Court to appoint a Deputy to manage your affairs in the event that you lack mental capacity to do so. This would involve somebody making an application to the Court of Protection to be appointed as your Deputy for financial affairs and/or personal welfare.

The person who makes this application could be a close relative, or it could be the Local Authority or a professional Deputy such as a Solicitor if nobody else is able to make the application.

In these circumstances you would not have any control over who makes the application, or over who the Court ultimately decides should have the authority from a Deputyship Order.

A Deputyship application is also a more costly alternative. The court fee is currently £420, and the necessary capacity assessment can range from £300 to £800. In addition, legal fees can amount to £2,500-£4,000 plus vat. In comparison, our fees for an LPA are up to £1,000 plus vat for one person, or £1,500 plus vat for two people making LPAs together.