L P A

[Canary42]

This morning I was presented with an online ad for Lasting Power of Attorney which included in the opening blurb "Despite the importance of a Lasting Power of Attorney, more than 85% of people in the UK still don’t have one."

I'm actually surprised the figures isn't a lot higher, 15% success rate seems to me extraordinarily high.

What do you think, do you have one (I don't) ?

[calmck]

Don't have one. My will is very specific

[ToraToraTora]

for what purpose? why do they think 85% need one? I'm amazed 15% have one, are we talking about the same thing?

[calmck]

Also would not reply to online ad

[ToraToraTora]

if it's anything like the old EPA (Enduring Power of Attorney) then you get that when you have a doolally relative or such like so you can handle their affairs but I'd have thought that's pretty rare.

[emeritus]

But your will is for your wishes after death. An LPA is taken out while of sound mind in the event of you becoming unable to deal with your affairs e.g Dementia. If you don’t have an LPA it is both costly and difficult after the incapacity occurs. I am in the process of arranging one

[aelmpvw]

does the 85% include the 54% who don't have a will?

[ToraToraTora]

Wills are irrelevant to this.

[hellywelly4]

When my husband passed away (18 years ago) the solicitor advised me to have one for the reasons that if I had a stroke/dementia/accident and couldn't function properly, then my daughters could deal with my finances. Fortunately I've been OK so far, and it has been a weight off my mind knowing that everything could be dealt with easily. We never know what's round the corner, and banks can be difficult if they don't have the proper authority in place (which is as it should be).

[barry1010]

Yes, we all do.

[bednobs]

i have one

[barry1010]

We do them ourselves, absolutely no need to pay a third party to set them up.

[margarettom]

Now that the country is opening up, I am going to make an appointment with my solicitor and do one. Bought my funeral plan yesterday. This is for my son, who is my sole close living relative, to make his life easier in the future.

[McMouse]

We both have them.

[davebro]

I have an EPA as if anything happens to me I would like my family to be able to look after my finances without too much hassle.

An LPA can have 2 elements, financial control & determining what should happen medically or with social care if one is unable to make those decisions.

I think the 15/85 split is more than likely accurate.

[pixie374]

I'm surprised so many do. In theory, everyone should have one, but even though I know that, I will probably leave it until either I am a lot older, or there is an obvious problem. That's just honesty, rather than a suggestion to anyone else.

[pixie374]

Tbh, I am a little wary of them as well. Very few of our clients with dementia do have one... but many relatives still behave as if they do. We learnt to record properly and clearly early on, whether somebody officially had poa, or whether they were just a nok.
We have also had people trying to use theirs to "overrule" someone, rather than just carry out their wishes. So, you have to be exceptionally careful who you choose.

[pixie374]

Calmk, your will only comes in after you die. Poa stops when you die... they aren't related.

[tamborine]

Solicitor got me poa on my OH when he had dementia; I handed it to the bank & bank informed OH's bruv who later took out same in bruv's name; cancelling out my poa. Bank met OH's costs on authority of the bruv. Wasted £3k of OH's money.

[THECORBYLOON]

According to the Office of the Public Guardian annual report in 2019/20, the OPG had 4.7 million POAs on their registeter.