Is having a Power of Attorney a risk?

risk

A retired senior judge, Mr Lush, has commented today warning about the risks of Powers of Attorney. Whilst his warnings are valid, the concern is that not making a Lasting Power of Attorney could be equally as devastating as making one with the wrong Attorney appointed.

What is a Lasting Power of Attorney?

A Lasting Power of Attorney is a legal document appointing a person that you trust implicitly to act in your best interests.

It is important that you take great consideration in who you are appointing and your Certificate Provider must ensure that you have not been placed under undue pressure to enter into Lasting Powers of Attorney. These are invaluable documents which will allow a close family member or friend to manage your affairs on your behalf if you are unable to do so.

Waiting for a Court application to appoint a Deputy is a lengthy and expensive process. Funds are often needed immediately to provide care for a loved one in an appropriate setting and delays incurred waiting for a Court application to come through can be very stressful and totally unnecessary if Lasting Powers of Attorney were made.

Perhaps consideration should be made as to the supervision of Attorneys, with possibly an annual set of accounts produced. At the end of the day, however, it is the responsibility of the Donor to appoint the right person. Consideration can also be made to appoint Professional Attorneys if a close family member or friend is not suitable.

The paperwork and process of registering LPAs can seem daunting but our legal advisors are happy to assist. Contact a member of the Wills & Probate team today.

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