This article highlights some of the risks that can arise with Lasting Powers of Attorney. It should be said that in the vast majority of cases, there are no problems. However, sadly, in a small number of cases, attorneys do abuse their position.
One of the most important decisions is to choose your attorneys carefully. Most people will appoint their family members or friends to act as their attorneys but for a variety of reasons some people choose to appoint professional attorneys. It is very important to find out who is going to act as the professional attorney, as well as the expertise of the firm and the cost of that advice. We recommend that you check if the chosen professional attorney is fully accredited with The Association of Lifetime Lawyers. Members of The Association of Lifetime Lawyers are qualified to support older and vulnerable people with the right advice about wills and powers of attorney as well as advice on care funding and inheritance tax.
It is also advisable to check how the proposed professional attorney is going to be supported within their firm, as they cannot possibly perform all of the day-to-day administrative tasks themselves. This also makes the general management of your affairs more cost and time effective. Some legal firms, including IBB Law LLP, have dedicated teams that provide support to professional attorneys in carrying out their duties.
Some professional attorneys also act as professional deputies for people who have lost mental capacity to make a Lasting Power of Attorney. Deputies are appointed by the Court of Protection and only a selected few are invited by the Office of the Public Guardian to join their official Panel of professional deputies. A Partner at IBB Law LLP is on the Panel of professional deputies.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
