Heather West gives advisers an overview of lasting powers of attorney, the factors to consider and how to guard against abuse
Most of us take it for granted that we will go on being able to manage our finances for the rest of our lives, at which point it will be for our executors (assuming there is a will in place) to take over. But physical or mental disability may affect any one of us, especially as we grow older. Little thought is given to this until these unfortunate circumstances have already arisen. What is a lasting power of attorney? The Mental Capacity Act 2005 ('the Act'), which came into force on 1 October 2007, provides a statutory framework to protect and support individuals who lack ment...
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