Martin Jones: Three technical tips on Powers of Attorney

Possible stumbling blocks

clock • 4 min read

A Power of Attorney can be a very useful solution but there are potential pitfalls - here Martin Jones highlights three questions that could save advisers and their clients a lot of time, cost and effort further down the line.

Many clients concerned about their future mental or physical health look to pre-empt challenges by granting a Power of Attorney to a trusted friend or family member. For others there are simply practical reasons as to why it might be helpful to have another person who can act on their behalf. While Powers of Attorney are designed to make our lives easier, they are not without stumbling blocks. Whether the client already has one in place or not, here are three questions to bear in mind: * Does the client still have mental capacity? Firstly, in order to grant any kind of Power of Attorn...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Adviser tips

IFAs must grasp gender differences to grow female client base

IFAs must grasp gender differences to grow female client base

IFAs must communicate differently to build trust with female clients

Jenna Brown
clock 17 April 2024 • 2 min read
Friday Night Takeaway: Is talk of bonds giving you whiplash?

Friday Night Takeaway: Is talk of bonds giving you whiplash?

The editor's Friday Night Takeaway from 12 April

Hope Coumbe
clock 12 April 2024 • 1 min read
Editor's View: A very happy new (financial!) year to you

Editor's View: A very happy new (financial!) year to you

The editor's Friday Night Takeaway from 5 April

Hope Coumbe
clock 05 April 2024 • 1 min read