25/04/2023 by Northwood Banks & Co 0 Comments
Offering reassurance and security despite Court and Registry delays
One of the key reasons people prepare their Lasting Powers of Attorney is reassurance. They want to be reassured that, no matter what happens, their wishes will be followed.
One of the key reasons people prepare their Lasting Powers of Attorney is reassurance. They want to be reassured that, no matter what happens, their wishes will be followed, and they will not face additional disruption. This is also true when it comes to property matters. Many of our customers take the decision to own their property as Tenants in Common in order to create a Trust within their Will which protects their property for their families.
Once these plans, and others like them, are in place families can be reassured that all these issues have been taken care of. In all these situations where we have been instructed to do so, once documents are signed, we act promptly to pass on these instructions to the relevant authorities.
Lasting Powers of Attorney must be registered with the Office of the Public Guardian to become valid, and it is worth noting that this Government body is suffering from long delays. For a variety of reasons, dating back to the first lockdown during the pandemic, the registration period has now lengthened to a minimum of 20 weeks.
We cannot see these delays shortening any time soon, so our advice is that; it is better to get your Lasting Powers of Attorney complete and submitted for registration sooner rather than later. With the documentation in the system, it will ultimately progress through to registration and can then be used by your chosen attorneys should the need ever arise.
It is worth noting that should an individual lose mental or physical capacity anyone who knows them, but may not be someone they would choose, can apply to the Court of Protection for a Deputyship Order. However, this process is considerably more expensive than arranging for a Lasting Power of Attorney and takes noticeably longer. Current applications are taking well over a year for a Deputyship Order, another reason that Lasting Powers of Attorney are a more suitable option.
The situation regarding properties, and the severance of Joint Ownership to Tenants in Common is more reassuring. Once the documents have been signed and verified the instructions regarding the property are immediately valid. However, to ensure the process is complete and cannot be disrupted or challenged the instruction to sever a tenancy for example, should be submitted to the Land Registry.
This Government department is also suffering from lengthy delays, with routine transactions taking as long as 6 months to register and registrations of unregistered property taking around 18 months. It is advised that documentation should be submitted promptly as, again, we believe these delays will not ease any time soon. Although, in this case our customers can be reassured that their intentions are legal and complete once their documents have been signed and dated correctly.
Our legal teams are in constant contact with the Office of the Public Guardian, the Court of Protection, the Land Registry, and other Government Departments to monitor these situations and ensure our customers get accurate and timely updates.
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