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...
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