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It is generally believed that these instruments/documents are only required for older people who are deemed to be losing capacity. If they are not put in place once capacity is lost it is too late to implement. The person who may be losing capacity is classified as the “Donor”. The Donor needs to have the capacity to authorise the preparation of the LPA and allocate their Attorneys to look after their affairs. It is desirable to have at least two Attorneys who are able to act. This is a serious role to take on. 
In the real world we could all lose capacity at any time e.g. an accident or an illness. It is not an exclusive requirement that is age driven contrary to general perception! 
 
Financial Lasting Power of Attorney
• Simply allows the Attorneys to manage all the financial aspects of the Donor’s affairs on-going. 
 
Health and Welfare
• This document covers the important area of the Donor’s well-being. Enabling the Attorneys to make decision and manage the Donor’s health and general welfare. An example might be entering in to care if deemed appropriate. 
 
The two documents usually fit together as a “belt and braces” approach. 
 
However, if required, one LPA can be prepared without the other. 
 
The process of instructing such documents is quite straight forward. 
 
Once prepared they are required to be signed and witnessed in a controlled and specific way by a professional to ensure the documents are fit for purpose. 
 
Once signed, witnessed and finalised they are then lodged with The Office of the Public Guardian (OPG). 
 
There is a fee for lodging each of the documents and lodging and processing can take up to 8 weeks before being returned to the Donor or Attorneys. 
 
Can you afford to risk the possibility of The Office of the Public Guardian stepping in and making decisions on your affairs if you have not designated people you trust to look after you? Such decisions that are made by the OPG are charged from the individuals assets. 
 
For a free financial and personal review of your Estate contact Caroline J Maguire, Financial and Trust Consultant on 07950 622375 or via email at caroline@hdconsultants.net 
 
Next time I’ll cover some good and bad examples of estate planning.. 
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We normally charge a Professional Client Fee for mortgage advice. The amount will depend on your circumstances. A typical fee would be £500. The actual Professional Fee may be more or less than this, and is subject to a full Fact Find discussion and research process. H D Consultants is an Appointed Representative of PRIMIS Mortgage Network. PRIMIS Mortgage Network is a trading style of Personal Touch Financial Services Ltd which is authorised and regulated by the Financial Conduct Authority. Registered Office: Preston House, 163 High Street, Crowthorne, Berkshire, RG45 7AF. Registered in England & Wales. Company Registration Number 4952586. This site is for UK Consumers only. Website Terms and Conditions click here for our Privacy Policy. GDPR Privacy Policy - click here (PDF download / view) This site contains third party links. By clicking these links you will depart from the H D Consultants' regulated site. H D Consultants accepts no responsibility for the content of these sites.. The Financial Conduct Authority does not regulate some of the services listed. H D Consultants, mortgage and life insurance advisers, is authorised by the FCA no 403701. Our in house Wills and Trusts Practice is a long standing Member of the Society of Will Writers and Estate Planning Practitioners.  
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