Lasting Power of Attorney (LPA Newcastle) – Your questions answered.

How do my Attorney’s access my financial details, such as my bank accounts?

As part of your instructions, you can grant your Attorneys access to your assets, for example, online bank accounts and your will.

Do I really need a Lasting Power of Attorney?

Yes! Less than 1% of the adult UK population currently has a Lasting Power of Attorney (LPA Newcastle). According to the Alzheimer’s Society, 1 in 3 people over the age of 65 in the UK develop dementia.

What if I don’t have a Lasting Power of Attorney and I lose mental capacity?

If you lose capacity without a Lasting Power of Attorney, then someone can make an application for a Deputyship order. This is submitted to the Court of Protection. If there are no objections, then your Deputy would be appointed. Your Deputy is granted permission to make financial decisions on your behalf.

However, you don’t have control of who takes your Deputyship. Without a Lasting Power of Attorney (LPA), you would be giving up your power of choice and leaving it to the Courts to determine who should make decisions on your behalf. You also have no input into how decisions are made.

When should I put my Lasting Power of Attorney (LPA) in place?

People often choose to implement their Lasting Power of Attorney (LPA) alongside their will. Your Lasting Power of Attorney (LPA) should be in place as soon as possible, whilst you have full capacity.

Will, the Executors, appointed in my will be able to make decisions on my behalf?

Unfortunately not. A will and Lasting Power of Attorney (LPA) are two separate legal documents. Your Executors have no authority whilst you are alive.