Lasting Powers of Attorney – Making life easier?

Lasting Powers of Attorney – Making life easier?

The Financial Conduct Authority (FCA) recently published a paper examining the ease by which the affairs of the old and vulnerable could be managed by their families. Amongst other topics the paper discussed Lasting Powers of Attorney and how their implementation might be made easier.

It is unfortunate that LPAs in their present form are almost impossible to complete properly without professional advice. Of the 100’s of LPAs we have made and registered for clients since October 2007 I could count on one hand the number of clients who have fully understood what they were doing and its effect without explanation and the benefit of such advice.

There is also the opportunity for fraud on a vulnerable person if the documents are not properly completed and certified by someone competent to do so.

The documents rely on the witnessed signature of the person making the power as their consent for their Attorneys to act on their behalf.

Without the intervention of an independent professional as Certificate Provider and witness there is no certainty at all that the LPA represents the true wishes of the person giving the power or that the person has the capacity to give that consent!

We are concerned that there is no simple solution to making LPA’s and to take away the checks and balances would provide an even greater opportunity for fraud.

Contact us for help and advice.

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