Lasting Power of Attorney system in need of urgent upgrade, Which? says

'Lack of awareness'

Julia Bahr
clock • 4 min read

The Lasting Power of Attorney system is in desperate need of improvement, research from Which? has suggested.

The survey suggested widespread confusion about how the process works and banks often causing avoidable problems for people registering as attorneys. "The creaking power of attorney system needs urgent improvement, particularly to address the public's lack of awareness of how the process works and the difficulties people face when registering with banks. This problem has been going on for years," said Which? money editor Jenny Ross. Lasting Power of Attorney (LPA) is a legal document that allows a person to give another the power to make decisions on their behalf if they lose mental c...

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 Retirement

'Urgent action' needed on Gen Z pension saving barriers: PPI report

'Urgent action' needed on Gen Z pension saving barriers: PPI report

Generation faces retirement challenges

Jasmine Urquhart
clock 26 February 2025 • 3 min read
Advisers concerned about regulatory scrutiny in decumulation phase

Advisers concerned about regulatory scrutiny in decumulation phase

Retirement planning ‘dominates’ client advice requests

Isabel Baxter
clock 27 November 2024 • 3 min read
Advisers call for new products to tackle retirement planning challenges

Advisers call for new products to tackle retirement planning challenges

Retirement products ‘don’t meet modern needs’

Isabel Baxter
clock 25 November 2024 • 3 min read