Property & Financial Affairs LPA (LP1F)
Guidance from Estate Advisory Group
The LPA that lets people you trust deal with money, bills, pensions and property if you cannot — or, if you prefer, as soon as it is registered.
What this LPA covers
- Paying bills and managing bank and building society accounts
- Collecting pensions, benefits and other income
- Managing investments and dealing with tax
- Maintaining, letting out, buying or selling property, including the donor's home
- Running or winding up simple financial arrangements on the donor's behalf
It does not cover care, medical treatment or where the donor lives. Those decisions need the Health & Welfare LPA instead, which is why most people make both.
The decision that catches people out
The LP1F asks when the attorneys' authority starts. You can allow them to act as soon as the LPA is registered, which is convenient if you want help now, or only once you no longer have mental capacity, which keeps control with you for longer but means banks will need evidence of loss of capacity before they act. Neither choice is better; they suit different situations, and we explain both without steering you.
Who can be an attorney on an LP1F
- Anyone aged 18 or over who has mental capacity themselves
- Not anyone who is bankrupt, subject to a Debt Relief Order or an interim bankruptcy restrictions order — this disqualification applies to financial LPAs specifically
If an attorney becomes bankrupt later, they stop being able to act under a Property & Financial Affairs LPA. Naming a replacement attorney protects against that. More on choosing attorneys.
What we do
- Ask the questions the LP1F needs, one screen at a time, in plain English
- Check each attorney against the eligibility and bankruptcy rules as you enter them
- Check your certificate provider is someone the OPG will accept
- Flag preferences and instructions of the kind the OPG commonly rejects
- Produce your completed document plus any continuation sheets you need
- Give you a signing guide naming every signatory, page and the order to sign in
Registration fee is separate
Price
£49 for this LPA on its own, or £79 for this and the Health & Welfare LPA prepared together and cross-checked against each other.
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This is general information about how Lasting Powers of Attorney work in England and Wales. It is not legal advice about your situation. What we do and do not do.
Published by Estate Advisory Group