Blog
Rayner my parade! The importance of specialist advice.
Jemma Brimblecombe
Financial abuse of the elderly is a shame on our nation. That the abuser is often the elderly person’s own offspring, acting under a Lasting Power of Attorney (LPA), is disturbing. And let’s not mince words; we’re talking about children stealing their parents’ money.
We may all be affected by loss of mental capacity in our lifetime; whether it is ourselves or a loved one. Illness, accident or even old age can have a devastating effect on our ability, and the ability of people around us, to manage day to day life. So what happens if a loved one, family member or friend loses the ability to manage their own finances?
The Financial Conduct Authority has published a paper suggesting that more should be done to enable individuals (“donors”) to make, register and store Lasting Powers of Attorney online. These proposals may save time, paper and energy, but there is a real risk that safeguards designed to protect individuals will be compromised.
Many of us will recall the disappearance of 35 year old Claudia Lawrence when she was on her way to work at the University of York in 2009. Claudia has still not been found. Her father, however, has been championing a law which would allow a relative of a missing person to deal with their financial affairs. Named ‘Claudia’s Law’, the Bill has already been backed by MPs in the Commons and will shortly be going to a second reading.
You don’t need a solicitor to make a Lasting Power of Attorney (LPA); forms and guidance can be found here. Indeed, the Government encourages a cost effective do it yourself approach to “routine” legal documents. This blog will discuss some tips for creating a successful LPA yourself in relation to selecting attorneys and reserve attorneys.
Jemma Brimblecombe
Charles Richardson
Oliver Oldman
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