40RTY reasons to have power of attorney #3

Hi there.

40RTY reasons to have power of attorney #3 - it's far cheaper than a deputyship.

Chances are, you have heard of an LPA (lasting power of attorney) and even have some understanding of their use. But most of you will have no idea what a deputyship is; until that is, when it comes as a shock!

You can apply to become someone’s deputy if they ‘lack mental capacity’. This essentially means they cannot make a decision for themselves at the time that decision needs to be made and thus, you act on their behalf and in their best interest. Importantly, it also means that time has long passed for when an LPA application could and should have been made. This is a salutary lesson, especially for for children with elderly parents or those approaching that stage of life, to get things sorted.

Making an LPA application is far cheaper than the cost of a deputyship and also, significantly less daunting administratively. An LPA costs just £82 to register. By contrast, just some of the deputyship order costs include:

* £371 application fee
* £494 hearing fee if the Court of Protection demands a case hearing
* £100 assessment fee, per new deputy
* £320 annual supervision fee

A deputyship application is far from straightforward; in truth, it is extremely convoluted (and some of it has to be repeated on an annual basis). Thus, there can also be a hefty legal bill to pay for assistance with the process.

And yes, I would definitely advise you to seek guidance when making an LPA application as there are areas that can cause issues. However, this cost will be significantly cheaper than that incurred if having to make a deputyship order down the line.

Making an LPA and making it far in advance is not just easier, but far cheaper.

Stop putting it off; contact me, Jules and I'll organise your applications.

Peace and blessings.

01727 576 117 - julesj@40rty.co.uk - www.40rty.co.uk

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