Should I use a solicitor to prepare Lasting Powers of Attorney?

As you may be aware, there are two types of Lasting Powers of Attorney; the first relates to Property and Finances and the second relates to decisions in respect of your Health and Welfare. Lasting Powers of Attorney give the individuals appointed (known as the Attorneys) a wide range of powers and therefore, it is vital that you fully understand the legal implications of putting the same in place.

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This neatly leads onto a question we usually get asked by clients: ‘do I need a Solicitor to prepare their Lasting Powers of Attorney, especially in light of the fact that the paperwork is readily available online for completion’. Whilst the latter option may seem more beneficial from a financial perspective, in the long-term the lack of legal advice could mean you face problems in the future or, there may be unforeseen consequences to your decisions which may put you or your loved ones at risk.

Safeguards

A Solicitor would usually go through with you (as the Donor) any safeguards you may wish to include, together with any preference or instructions you may wish to leave to guide your appointed Attorneys. For a Property and Finance Lasting Power of Attorney, this may include provisions relating to consulting individuals or professionals (such as your Financial Advisor) before making certain decisions, make provision for your Attorneys to keep accounts or may even allow for provision to continue where you are responsible for maintaining someone.  In respect of the Health and Welfare Lasting Power of Attorney, instructions or guidance can be included in relation to decisions being made in respect of Life Sustaining Treatment, your wishes in respect of what treatment you do or do not wish to receive and guidance on lifetime choices. Careful consideration will need to be taken when deciding to include  any provisions you would like to put in place but also the consequences of any instructions on the workability and flexibility of the documentation

Timescales

Whilst completing the forms online may seem to be easier, the signing process can be quite complex as each documentation is over 20 pages long and will need to be signed and dated in the correct order otherwise, the application will simply be rejected by the Office of the Public Guardian with a request for individuals to resign their relevant sections. Bearing in mind an application is currently taking in the region of 2 – 3 months to process, even without delays, the making of mistakes on the application can make a lengthy process even longer, which may not be desirable if you require the paperwork urgently to action a decision.

One thing we always recommend to clients as well is to prepare and register the Lasting Powers of Attorney straight away, despite the fact that they may not be needed as of yet. This will ensure that should you require the Attorneys to step in in unforeseen circumstances, they are able to do so without having then to wait for the paperwork to be registered before they have legal authority to act.

If you would like advice or guidance regarding the preparation of Lasting Powers of Attorney, contact Natasha and our Private Client Team on 01908 660966 / 01604 828282 or email PrivateClient@franklins-sols.co.uk.