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Trading Law

Powers of Attorney
Lasting Powers of Attorney


Unlike a Will which sets out what will happen when you have passed away, a Lasting Power of Attorney enables people to manage your finances through your lifetime. There are numerous reasons why Powers of Attorney will be advantageous to you, not just linked to memory issues.

We see people whose eyesight is failing, who cannot sign because their hands are affected with arthritis or who simply cannot get out of their own home. If you sign one of these documents you are not giving anything away. All your money and assets still belong to you and your Attorneys will have to do what you say until such time as you cannot make decisions for yourself. It is still open to you to cancel the Power before that time arrives and for you to reappoint another family member in the event of a change of circumstances within the family.

Powers of Attorney are not age related and it is good planning when making a Will to consider a Power of Attorney at the same time, so that you are covered for all unforeseen eventualities. Waiting until you have crossed the point of being able to make decisions will cause difficulties for your family who will then need our services for a more extensive Court of Protection application.


Enduring Powers of Attorney
Enduring Powers of Attorney work similarly to Lasting Powers of Attorney save that for them to be effective they will need registering with the Office of a Public Guardian. We regularly assist clients in that registration process so that the Enduring Power of Attorney can continue to be an effective authority to the Attorney to manage the affairs of a relative.
Since 2007 it has not been possible to make new Enduring Powers of Attorney.

Trading Law resources

Business guidance - Trading Standards Institute

 

 

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