How do I prove I have power of attorney?

Lasting Power of Attorney Cost.

Managing your property and financial affairs is a bit challenging if you become mentally incapacitated, but you can continue with your life as normal if you have a power of attorney. A power of attorney is a legal document that allows an individual to appoint another person to make his or her legal and healthcare decisions on their behalf if they are in a position where they cannot do it themselves.

The two types of LPA are property and financial affairs and health and welfare. You need to submit two separate applications to get both of them. General lasting power of attorney covers a wide range of situations like writing wills, finances, purchasing items, accessing bank accounts and many more. A lasting power of attorney will be effective even after you are deemed cognitively incompetent until you die or revoke the right.

How do I prove that have a power of attorney?

One thing you should note is that you should prove that you have a POA to conduct business on behalf of another, especially when it comes to sensitive areas such as wills and finances. You cannot just get into a bank with a copy of the POA and expect that the cashier will just give you the money. So what should you do for smooth transactions?

  • One way of proving that you have a lasting power of attorney is by presenting a certified copy of the LPA. You should send these copies to all the financial institutions that the donor deals with. These institutions include the banks where they have current saving accounts, their landlords, their general or life insurer, mortgage provider and their investment portfolio managers. Other essential institutions to deal with are their gas, water and electricity providers.
  • You can also use a normal photocopy if the donor countersigns it while they still have the capacity. The requirements are that the donor must write: ‘I certify this is a true and complete copy of the corresponding page of the original LPA’ at the bottom of each page. The donor must also write: ‘I certify that this is a true and complete copy of the LPA ‘at the final page of the copy, plus every page must be signed and dated. You can get copies of the OPG document from a solicitor at an affordable price, even if they are not the providers of the original POA. Call us now on 0121 231 7010’, to find out more, or email info@confidencewills.co.uk”.
  • Some Institutions, mostly banks, will require you to make a declaration about whether the donor can sign checks and receive statements or whether they lack the capacity. In situations where they mentally incapacitated, the attorney takes over all the transactions of the donor. You don’t need evidence to make the declaration, but you must give accurate information about the donor’s condition.

Why are Lasting Powers of Attorney Important?

Lasting Power of Attorney Guidence
  • They let you appoint those you trust to make critical decisions for you, should you lose the capacity to do so.
  • There is no ‘next of kin’, recognised in UK law.
  • 33% of those over 65 will get dementia.
  • One person will suffer a head injury or stroke each minute in the UK.
  • The cost and stress of appointing a deputy through the courts may be much greater.

 

Lasting powers of attorney (LPAs) allow you to appoint those you trust most, to make critical decisions relating to your health and finances, on your behalf, should you lose mental capacity in the future.

These are hugely important documents, and yet time and again, when the topic is broached, many shoot back with comments like:  “it won’t happen to me”; “I don’t need one yet”, “it costs too much”; “my husband/wife will look after me”.

Such objections are specious and often mask deeper anxieties. In my experience, the greater the responsibility borne by the individual, day to day, either by virtue of their work or family life, the more reluctant they are to entertain the notion of ever handing control of their affairs to another.

I say to you, what I say to all I speak to on the topic. Please, JUST HAVE THE CONVERSATION. Phone us on 0121 231 7010, there really is no obligation, just 10 minutes of your time to find out more. If you don’t like what you hear, end the call.

Back to those objections. To say “it won’t happen to me” or “I don’t need one yet”, with respect to LPAs, is to ignore not only the data, but the logistics of getting these documents completed and registered.

The process, when executed perfectly, may take 12 weeks. Confound governmental bureaucracy with the burdens of Corona virus, and this period may extend to months.  You must think about this now, you CANNOT register a document after losing capacity.

Somebody is hospitalised with stroke or head injury, every minute in the UK. Moreover, 33% of people over 65 are expected to get dementia. In cases of dementia, it is quite possible for capacity to be lost, post-diagnosis, before an LPA can be implemented.

To say “it costs too much” or “my husband/wife will look after me” is to ignore the alternatives.

There is NO NEXT OF KIN recognised in UK law. In practice, one’s family must apply to the Court of Protection to appoint a ‘deputy’ to manage affairs, on loss of capacity.

This process can take six months or more, during which time assets may be frozen. Who would fund your care and living costs during this time?

Failing to complete an LPA is the falsest of economies. It may cost £400 to apply to the Court of Protection and £100 to nominate a deputy. Legal work in preparing a court order may exceed £1,000. Annual reviews and ongoing management of the arrangement may incur recurring fees from £320 to £1,800 (depending on whether a non-professional or professional attorney is appointed).

It is so much less stressful to put LPAs in place. Preparing an LPA may cost as little as £150-£200 per document. Registration fees, charged the government are fixed at £82 per document (with income based reductions and benefit based exemptions available).

Without wishing to repeat myself. I urge you, please, JUST HAVE THE CONVERSATION. Phone us on 0121 231 7010, there really is no obligation, just 10 minutes of your time to find out more. If you don’t like what you hear, end the call!