A lasting power of attorney for property and financial affairs is a legal document that enables you to grant authority to a person who you trust (your Attorney) authority to act on your behalf in relation to your personal property and financial affairs.
A LPA for Property and Financial Affairs covers decisions about the donor’s property and money, giving your attorney authority to allow an attorney to make decisions about financial and property related matters, such as:
Crombie Wilkinson have a team of LPA solicitors who can help guide and advise you through this process. Contact us for more information, or alternatively you can fill out one of our contact forms.
You can give someone a general property and financial lasting power of attorney or for only certain things, for example, to operate a bank account, to buy and sell a house or change investments.
If you want to make an LPA that only deals with certain matters - for example, a power of attorney for selling a house - you should make sure that it is drawn up very carefully so that the attorney is very clear about what authority they have to deal with your affairs. A Lasting Power of Attorney for property and financial affairs can sell property on someone elses behalf.
Obtaining a property and affairs LPA is important because at any time any one of us could become either mentally or physically incapable of looking after our financial affairs. If this were to happen, it could make the everyday management of our financial affairs very difficult. You might imagine that loved ones would be able to deal with all of your finances on your behalf, but this is not usually the case.
A property and financial affairs LPA must be registered before it can be used. However, you don't have to wait until someone loses their mental capacity before using it. A property and financial affairs LPA will come into effect as soon as it is registered which means that your Attorneys can help you with your financial affairs, whilst you still have mental capacity. At this time, they must act on your direction.
Depending on your personal situation, you could decide to make:
You don't have to make both types of LPA at the same time.
For more information about LPA for finances and planning for your future, please do not hesitate to contact a member of our Private client Team.
What's new at Crombie Wilkinson
From 6 January 2025, visitors to our website will be able to use a Live Chat tool to communicate with us in that way if they wish to make an enquiry and ask for our help. This provides a different method to reach out to us to ask for help because our team...
If you have gone to the trouble of drafting a Will to ensure that your assets are distributed...
Business succession planning is essential for ensuring the long-term success and stability of a family-owned business. The structure of the family business is at the core of a business’ succession planning. The structure of the business and the...
It was a delightful to work with you and we will certainly come to you again for legal work.
We would recommend you to anyone as we were highly satisfied.
We have come across other legal teams and seen how their services have worked and we would highly recommend Crombie Wilkinson as they are competent and approachable in their services.
Everything was explained clearly and as a first time buyer I found this particularly helpful.
Have huge confidence in Crombies, always listen, always act.
Having had previous property related work completed in a prompt and satisfactory manner we were more than happy to approach your company for further work on our behalf.
Your firm did an excellent job meeting my expectations at a sensible cost.
You are available for the client, you communicate with the client, you do this within 24-48 hours, we feel safe with you because of this.
Our solicitor, secretary and the reception staff all excellent service.
Quick and easy, I have already recommended a friend, they are also using you to buy a house.
Your patience and support has been much appreciated. You helped me through a very difficult, frustrating time but I am already settled in my new home and the children all feel happy there, in fact they have hardly left!!
Everyone was so friendly, we were soon put at ease.
Immediate attention and sunny disposition, caring, nothing was too much. Levels of service are perfect, no improvement necessary.
I was very pleased with Crombie Wilkinson. I will in future always go back with any problems I may have.
Search site
Contact our offices
Make an enquiry