Power of Attorney and Court of Protection

A Power of Attorney is a legal document that allows someone to make decisions for you, or to act on your behalf, if you are no longer able.  Where a Power of Attorney is not in place, the Court of Protection can appoint an individual, known as a Deputy.

We would almost always recommend arranging a Power of Attorney as this ensures that a trusted individual or individuals will make decisions on your behalf, should the need arise. Most will nominate their children, a close friend or family member, or perhaps their solicitor.  Arranging a Power of Attorney is preferable to relying on a court appointed deputy, as the application to the court will inevitably result in delays, additional costs, as well as more onerous reporting requirements.

Even for individuals who are confident and experienced in running their own finances, acting as an attorney or deputy, on behalf of another, can feel like a great responsibility.   Making decisions in managing another person’s hard-earned savings and investments can be a stressful process, particularly when this may also coincide with a deterioration in that individual’s health.

We regularly advise clients acting as an attorney or deputy in managing the finances of a close family member.  This will typically involve constructing a suitable savings and investment strategy, based on the individual’s circumstances and requirements, which may be very different from those of the attorney.  Often, planning in these circumstances will include managing the significant costs involved in long term care.

Such advice can prove hugely reassuring to the attorney, in giving them confidence that they are acting in the best interests of their parent or close family members and that they are taking appropriate professional advice.  We can also assist in reducing the workload which often comes with looking after another person’s financial affairs.

Specialist Advice

Pensions on Divorce

Trust & Trustee Advice

Redundancy Counselling

Advice Team

Phil Boon

Phil Boon

Director and Independent Financial Adviser
Graham Hume

Graham Hume

Director & Independent Financial Adviser
Stephen Sale

Stephen Sale

Director & Independent Financial Adviser
Michelle Murphy

Michelle Murphy

Independent Financial Adviser
Adam Whittingham

Adam Whittingham

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Please feel free to contact us if you would like to enquire further