What would your family do if you were no longer able to make important decisions about your property, finances or personal welfare due to injury or incapacity?
In most cases the answer to this question is an application to the Court of Protection to have someone appointed as your Deputy.
Deputyship applications are heard by the Court of Protection and can be complex, time consuming and expensive. As an example, the Court sets a set minimum fee for solicitor’s costs for a Deputyship application at £825.00 plus VAT, there is also an application fee of £400.00 at the outset and an appointment fee of £125.00 payable to the Court once the application has been finalised.
Most importantly for you and your family at a time of great distress an application will usually take between two and four months to be considered; all the while no one is entitled to deal with your assets, make decisions regarding any business interests that you have or your health and welfare.
The solution to the question “how do you solve the problem of incapacity?” is to create a Lasting Power of Attorney (“LPA”) while you are in good health. LPAs are generally cheaper, less complicated and can be used as soon as they are registered with the Public Guardianship Office.
A Lasting Power of Attorney, alongside of an up to date Will are the most important documents you will ever write and vital to giving you and your loved ones peace of mind.
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