If something unexpected should happen meaning you are no longer in a position to look after your own affairs, having a LPA in place would avoid some of the stress and practical difficulties in managing finances and making decisions regarding your future.
Court of Protection & Deputyship case
RRL Wills is currently assisting a client with an application to the Court of Protection to be appointed as her Uncle’s Deputy, for Property & Finances. The application consisted of several documents including a Medical Certificate which had to be completed by the relevant professional, confirming that the Uncle did not have capacity to manage his affairs.
Having spent a couple of months sourcing the information in order to complete the forms and obtaining signatures, we submitted the application to the Court in October 2021. The Court then issued the application in November and we had to then serve notice on the Uncle and various other interest parties before then confirming to the Court that this has been done.
We are now six months on (April 2022), since the application was initially submitted and we are still awaiting the Order from the Court, confirming our client as her Uncle’s Deputy. We attempted to telephone the Court on several occasions without any response and emails also remain unanswered. We eventually managed to speak to someone and was told the application was in a queue with no prospect of any timescale.
Fortunately, in this case, there is no urgency for the Deputyship appointment to be made. However, in other cases, there will be a need for urgency e.g. investments that need immediate managing or assets that need to be sold and bills that need paying. If a Lasting Power of Attorney (LPA) for Property & Financial Affairs is in place and registered, attorneys can start acting as soon as required. This case highlights the significant benefit of having a LPA for Property & Financial Affairs in place.
A Lasting Power of Attorney is a legal document that enables an individual or individuals chosen by you, to deal with your affairs, if you become unable to do so at some point in the future. Putting Lasting Powers of Attorney in place will at least alleviate some of the stress and upset that your family faces in the event of incapacity and will ensure the smooth running of your finances.
There are two types of Lasting Power of Attorney:
Property and Financial Affairs
In the event that you are unable to look after your finances due to ill health, accident or incapacity, your chosen attorney can step into your shoes and can deal with, for example, the running of your bank account, management of your investments and buying and selling of property, as required in the case above.
Health and Welfare
This document would enable your chosen attorney to make decisions on your behalf, if you are unable to do so, regarding issues which impact upon your medical condition and personal welfare.
For further information, please see our Q&A on Lasting Powers of Attorney, here.