Peterborough office
48 Broadway, Peterborough Cambridgeshire, PE1 1YW
01733 346 333 01733 562 338 enquiries@hegarty.co.ukStamford office
10 Ironmonger Street, Stamford Lincolnshire, PE9 1PL
01780 752 066 01780 762 774 enquiries@hegarty.co.ukOakham office
66 South Street, Oakham Rutland, LE15 6BQ
01572 757 565 01572 720 555 enquiries@hegarty.co.ukMarket Deeping office
27a Market Place, Market Deeping, PE6 8EA
01778 230 120 01778 230 129 enquiries@hegarty.co.ukThere may be a time when you need someone to help you manage your property and affairs or personal welfare. This could be due to age, ill health or a loss of capacity. We can help you to plan for the future by putting a suitable Lasting Power of Attorney in place which lets you appoint someone to make decisions on your behalf.
Our experienced team can guide you through your options and ensure your affairs are managed according to your wishes.
A Lasting Power of Attorney (LPA) is a legal document that enables you to appoint someone (known as an Attorney/Attorneys) to make decisions on your behalf at a future time when you may not be able to make such decisions.
You can create two types of LPA:
This allows you to appoint an Attorney to manage your finances and property.
An appointed Attorney can make any decision the Donor (person giving the LPA) could make about his or her property and affairs such as buying and selling property, managing investments, paying bills, collecting benefits or other income – unless restrictions are included to the contrary.
These are also useful documents for business owners who are sole traders, partners and also sole directors/shareholders.
This allows you to appoint an Attorney to make decisions about personal welfare. This document can only be used when the Donor has lost mental capacity. Unless restrictions are included, the Attorney can do anything the Donor would have done regarding personal welfare, for example:
Anyone aged 18 years or over with capacity.
Anyone can be appointed as a person’s Attorney so long as they are over the age of 18 years, have capacity and are not bankrupt.
You can appoint more than one person to act. If you choose to appoint more than one then you have to decide how to appoint them.
You can also appoint a substitute just in case something happens to an Attorney in your lifetime.
Attorneys should be trustworthy and have a duty to act in your best interests and consider your needs and wishes so far as this is possible.
If you lose the capacity to be able to manage your affairs for whatever reason without a valid LPA then your personal affairs will become the responsibility of the Office of the Public Guardian.
In these cases a person’s affairs are placed under the jurisdiction of the Court who appoints a Deputy to act on your behalf and the Deputy is therefore answerable to the Court.
This can be an expensive route as Court approval is required for any act to be carried out, accounts have to be submitted to the Court every 12 months and financial decisions are not carried out by close family or friends.
You do not have to seek legal advice – it is your choice.
We do consider, however, that an LPA is a powerful and important document and it is far more complex than the previous Enduring Power of Attorney system.
We would recommend that anyone considering completing an LPA should seek appropriate professional advice.
For further information read our Guide to Lasting Powers of Attorney.
An LPA is a legal document that allows you to give a trusted individual(s) the power to make decisions for you if you don’t have the capacity to do so. It provides reassurance that your business can still operate with minimal disruption should you become incapacitated.
An LPA will be suitable for most business owners, but it is important to consider the type of business you own.
An LPA may not be necessary if a partnership agreement already includes a provision in the event a partner becomes incapacitated, and for some companies there may be provision within the Articles of Association in the event a director loses capacity that will provide for the termination of a director.
If there is no such provision, our legal team can offer advice about the best way to protect your business. However, for sole traders and companies with sole directors, incapacitation can be extremely detrimental, and a Power of Attorney will help to protect your business and ensure business continuity.
