Care Fees Advice and Investment Specialist
Enduring Power of Attorney (until October 2007)
If you already have an Enduring Power of Attorney, it is still completely valid despite now having been replaced by the new Lasting Power of Attorney, please see below.
Lasting Power of Attorney (after October 2007)
Existing arrangements will be allowed to continue, but from that date anyone wanting to put control of their money and property into the hands of a trusted family member or friend will have to follow a new procedure.
The EPA is now replaced by a new Lasting Power of Attorney which comes in 2 forms. The first is completely new. It covers decisions over health and welfare. The second deals with property and money as before.
But the Lasting Power of Attorney will only be valid once it is registered with what's called the Office of the Public Guardian and a new fee paid to the Public Guardianship Office. Your legal representative will give you details of the fee payable.
On the other hand the new Lasting Power of Attorney will be a comfort to anyone concerned about entrusting important decisions about care and treatment to the right person. The LPA creates a framework for the donor discuss priorities and preferences with the attorney in good time.
What's more, the registration has to happen at the start of the process, while the donor is still able to make decisions.
Also, there will be added layer of security against any unscrupulous manipulation of the the system to steal money or property. The new LPA cannot operate until it is registered. And it cannot be registered without a signed certificate from a reputable person confirming that the donor is of sound mind.
Although the procedure is likely to be more complex and costly, we would still advise clients very strongly to take out a lasting power of attorney for their protection.
Contracts with care providers
Always read carefully and take legal advice where necessary.
Making a Will
If you pass away without making a Will, your assets will be distributed according to the rules of intestacy as laid down in the Intestate Succession Act. This situation can easily be avoided by making one. Although there are many do it yourself methods available, we would still advise this important document to be undertaken professionally by a will writer or preferably a solicitor.
Trusts & Estate Planning
Trusts can be used to organise your estate in a way in which you feel it may most benefit you and your family. They are particularly useful in giving consideration to inheritance tax planning. Our estate planning service takes into account your individual circumstances.
Legal Matters
Capital Care Financial Services Ltd is authorised and regulated by the Financial Services Authority.
Capital Care Financial Services Ltd is entered on the FSA register (http://www.fsa.gov.uk) under reference 435067.