How to make your Financial LPA online

How to make your Financial LPA online

A.D.E Wills’ online LPA services makes writing your Financial LPA online quick, easy and user friendly. Use our secure servers to make your Will now with confidence.

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Getting started with making your LPA is very simple. You will find many buttons taking you to the LPA making page across the A.D.E Wills website, such as the “Get Started” button on the LPAs page.

You will be taken to the online LPA making section.

Click “Let’s do it” and simply answer the questions as they appear. All your answers will be securely stored in our servers and not disclosed to any third parties without your express permission.

You will firstly be asked which LPA you wish to make where you simply click “Financial”. If you wish to make both LPAs, you will have to complete the Questionnaire twice as each serve very different purposes and require different information.

The first section covers personal details, such as your name, date of birth and contact details. These are necessary to complete your LPA.

The second section covers your address. This is required to create your LPA.

The third section covers your attorneys. The people you choose to make decisions for you are called your ‘attorneys’. They do not need special legal knowledge or training. They should be people you trust and know well, including your spouse, partner, children or best friend (provided they are over 18 years of age).

You can choose a maximum of four attorneys. Simply enter their full names, dates of birth and addresses in the relevant spaces. These are all required to complete your LPA.

The next section covers how you wish your attorneys to make decisions together. This is only relevant if you have more than one attorney.

If you have chosen more than one attorney, you need to decide how they should make decisions on your behalf. The available options are:

  • Jointly and severally
  • Jointly
  • Jointly for some decisions, jointly and severally for other decisions.

‘Jointly and severally’ is the most commonly chosen option. This option provides that your attorney can make decisions together or just one of them can make a decision on their own.

This is the most flexible and practical way for attorneys to make decisions because it means your LPA can still work, say, if one of your attorneys is abroad on holiday at the time a decision needs to be made.

If you choose a different option than ‘jointly and severally’ and your attorneys are unable to unanimously agree a joint decision, the decision cannot be made. This might render your LPA unworkable.

If you choose ‘jointly for some decisions, jointly and severally for other decisions’, you need to complete a Continuation sheet to provide which decisions must be made jointly.

The next section asks whether you wish to appoint any replacement attorneys.

If one of your original attorneys can no longer make decisions on your behalf, replacement attorneys are the people who can step in to take their place.

The replacement attorney will step in if one your original attorneys:

  • Dies
  • Loses mental capacity themselves
  • Decides they no longer wish to act on your behalf (which is called ‘disclaiming their appointment’)
  • Was your spouse or civil partner but your relationship has legally ended (unless you have included an instruction for them to continue)
  • Becomes bankrupt or subject to a debt relief order (this only applies to Financial LPAs).

A replacement attorney can only act if the original attorney they are replacing is permanently unable to make decisions for one of these reasons.

A replacement attorney cannot temporarily stand in for an attorney who is still able to act (for example, the original attorney is abroad on holiday) and they also cannot replace a replacement attorney.

If you include more than one replacement attorney in your LPA, they all start at the same time, unless you have:

  • Appointed your attorneys to act jointly and severally and
  • Stated the order in which your original attorneys will be replaced.

The next section covers when your attorneys can make decisions. This question applies to the Financial LPA only.

As mentioned earlier, LPAs are intended to take effect when you lose mental capacity. However, with Form LP1F you have a choice as to when it becomes effective.

A Financial LPA can usually be used as soon as it is registered. Even if you still have mental capacity, you can tell your attorneys to start using the LPA immediately. If you then lose mental capacity, they can carry on using the LPA.

Alternatively, you can decide that your Financial LPA will take effect, and your attorneys will be able to act for you, only when you lose mental capacity.

“As soon as my LPA has been registered (and also when I do not have mental capacity)”

This option is suitable for you if you want your attorneys to help you with your finances while you have mental capacity.

For example, if you cannot leave the house or it is difficult to contact your electrical supplier, you might choose to ask you attorneys to deal with the bank or to pay the bills. Another situation is asking your attorneys to act for you if you are away, say, on holiday.

The next section covers people to notify. Letting people know about your LPA just before it is registered protects you. It is especially important if there is a long time between making your LPA and registering it.

You can choose up to five people to notify about your LPA when is about to be registered.

These are not to be your attorneys or replacement attorneys, but are instead people who know you well and would be willing to raise concerns about your LPA. They can object to the LPA if they think you were under pressure to make it or if they think fraud was involved.

People usually choose their family members or close friends.

It is important to check that the people you are planning to notify are happy to be named in your LPA. You should explain to them that:

  • They do not have to do anything right away
  • They will only be told when you or your attorneys apply to register your LPA
  • Their names and addresses will be sent to the OPG
  • They do not have to do anything when they are contacted, unless they have concerns

The next section covers preferences. Whilst most people leave this section blank, it does give you the opportunity to personalise your LPA to suit your specific needs by telling your attorneys about preferences you may have regarding your financial decisions.

Preferences are what you would like all your attorneys to think about when they make decisions for you. Your attorneys do not have to follow them but should bear them in mind.

If you write any preferences, avoid words such as ‘must’ and ‘shall’. Instead use words such as ‘prefer’ and ‘would like’, so it is clear that you’re giving your attorneys advice. Simply write your preferences in the box provided.

The next section covers instructions. Again, whilst most people leave this section blank, it does give you the opportunity to personalise your LPA by giving your attorneys any instructions you may have regarding your financial decisions.

If your attorneys must do something, include it in your instructions. Instructions tell your attorneys what they must do when acting on your behalf. If you write any instructions, use words such as ‘must’, ‘shall’ and ‘have to’.

If you are not sure about what you can put in this section, it is important to seek legal advice. Visit http://www.adewills.co.uk/lpas for a comprehensive list of the examples of preferences and instructions you can include in both LPAs.

Whilst this section is optional, the only circumstances in which you must write an instruction is in a Financial LPA if:

  • You have investments managed by a bank and want that to continue
  • You want to allow your attorneys to let a bank manage your investments.

Simply insert all your instructions in to the box provided.

The final section simply asks whether there is any other further information you wish to add. This is a good place to:

  • ask any questions you may have about your LPA or the LPA making process;
  • include any further questions about the preferences and instructions section of your LPA;
  • state that you are also submitting this with your Health LPA. You will also have to fill out the LPA Questionnaire for your Health LPA as the two LPAs serve entirely different purposes.
  • state that your LPA forms part of a couple LPA (stating the name of your partner). Your partner will also have to fill out the LPA Questionnaire themselves, separately.

After completing the questionnaire, you will see a message informing you that our team will review your instructions. They will check everything is in order and contact you to answer any questions or confirm your instructions.

From then, you will have your downloadable LPA within 7 working days, along with your Signing Guide.

 

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