The Benefits of Registering an LPA Straight Away: Before a Lasting Power of Attorney (LPA) can be used, it must be registered with the Office of Public Guardian (OPG), which costs £82 per LPA. For a Property and Financial Affairs LPA, the attorneys can act as soon as it is registered with the donor’s consent. In contrast, a Health and Welfare LPA can only be used once the donor has lost capacity.
While an LPA needs to be registered so that it can be used, some people may prefer to wait until it needs to be registered before registering it with the OPG. However, registering an LPA as soon as possible has many benefits. Let’s take a quick look at some of the reasons below:
Registration Times
The Benefits of Registering an LPA Straight Away: It currently takes up to 16 weeks for an LPA to be registered. Registering the LPA earlier will avoid issues later on should it be needed in an emergency situation. Instead of registering the LPA at the time it is needed, it is a good idea to have it registered earlier so that the attorneys can act as soon as they need to.
Mistakes or Errors
The Benefits of Registering an LPA Straight Away: If there are any errors in the LPA that the OPG recognises, these can be corrected immediately. Suppose the LPA is registered when it needs to be used and errors are found. In that case, it may be too late to have these corrected or new documents drawn up, as the donor may lack the capacity to make a new LPA, and an application for a deputyship order will need to be made instead. This can take a lot longer and cost significantly more.
For advice tailored to your circumstances, speak to Graham Hinitt. By calling Matrix Estate Planning Limited on 07786361139
