Lasting power of attorney: Everything you need to know

Lasting power of attorney: Everything you need to know

clock

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...

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 Long Term Care

Immediate needs annuities: Tackling the LTC conundrum

Immediate needs annuities: Tackling the LTC conundrum

The cost of the INA will be deducted from the estate

Mark Lisle
clock 06 December 2023 • 3 min read
Political parties must 'come clean' on social care plans

Political parties must 'come clean' on social care plans

Social care plans not mentioned at Labour or Tory party conferences

Jenna Brown
clock 11 October 2023 • 1 min read
Industry collaboration needed to spark social care change - ABI

Industry collaboration needed to spark social care change - ABI

Hannah Gurga addresses social care and climate challenges

Hemma Visavadia
clock 23 February 2022 • 2 min read