What is unique about our Lasting Power of Attorney Service?
We specialise in protecting family wealth and have many years of experience helping clients negotiate the preparation of LPAs.
This Service is provided by our Tax and Trustee services team, as we recognise that the specialist management of LPAs is critical to ensure clients’ wealth is sufficiently protected.
We can also act as your Attorney on property and financial affairs and store all LPAs related to these affairs, if required.
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How our Lasting Power of Attorney Service works
Following an introduction from your Adviser, our Tax and Trustee Services team will liaise directly with you to make a Lasting Power of Attorney.
We will start with a conversation to understand your requirements in detail, asking appropriate questions to ensure you have sufficient arrangements in place.
We will then provide you with a draft LPA to review and can coordinate and supervise the formal signing of the document, if required.
Once all parties have signed the LPA, we recommend registering it with the Office of the Public Guardian (OPG) as soon as possible. We can arrange this for you, however, please note the OPG charge a separate registration fee per document.
Our LPA Service is administered by our wholly owned subsidiary, Killik & Co Trustees Limited.
Frequently Asked Questions
What is a Lasting Power of Attorney?
A Lasting Power of Attorney (LPA) is a legal document that gives authority to another person (or persons) to act for and make decisions on behalf of the grantor. There are two types of LPA, one covering property and finance and the other covering health and welfare.
Health and Welfare LPAs may only be used if the grantor loses mental capacity. However, the grantor may decide when to use the Property and Finance LPA, either just when mental capacity is lost or while the grantor still has mental capacity and when it is lost. It does not have to be permanent as the LPA may be revoked at any time while the grantor still has mental capacity.
A general or ordinary power of attorney does not have this flexibility. It may only be used for financial matters and it is important to note that problems can arise if the grantor loses mental capacity, as this would cause the document to become null and void.
Why appoint an attorney?
Most people accept that they should write a Will to avoid difficulties for their family when they die, however, planning for a potential loss of capacity can be equally as important. Your first instinct might be to appoint a relative or close friend to act for you, but whomever you choose should be someone with whom you have complete and unquestioning trust. You should also consider whether that person is able to carry out what can prove to be sensitive and time-consuming tasks.
How much does our LPA Service cost?
Preparation of one category of LPA (one client): £350 including VAT
Preparation of two categories of LPA (one client): £475 including VAT
Preparation of one category of LPA (two clients): £700 including VAT
Preparation of two categories of LPA (two clients): £950 including VAT
Office of the Public Guardian fee: £82 per LPA document (nil VAT)
We have a series of complementary financial "How to" Guides...
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