Daniel Stansall IFA Barnet recommends setting up lasting powers of attorney

Thursday 22 December, 2016

Daniel Stansall Independent Financial Adviser (IFA) Barnet, North London recommends setting up lasting power of attorney

A lasting power of attorney (LPA) enables you to give another adult over 18, the ‘attorney’ the legal authority to be able to make decisions on your behalf.  These decisions could involve managing your finances or making decisions about your health and welfare.  To set up a lasting powers of attorney we recommend you see your solicitor as it may be helpful to get legal advice from someone who can explain the different scenarios that need to be considered and the knock-on effect that these may have in the future.

Daniel Stansall, independent financial adviser Barnet and part of our North London financial planning team said:

‘When we meet clients and we are offering independent financial advice we always recommend that they set up a will and lasting power of attorney.  Lasting powers of attorney enables you to choose who makes decisions on your behalf if you are unable to make them yourself.  It is important to appoint an attorney that you can trust to act for you, and many people choose a family member.  In respect of property and finance decisions you can decide which decisions your attorney is allowed to make.  These could include paying your bills, managing your savings and investments, or selling your home.  It can be reassuring to know that you have appointed someone you trust to make these decisions for you.  Setting up lasting power of attorney will be a help to your family if it’s set up before you need it.  We often find that when our clients set up lasting powers of attorney it encourages parents to discuss financial planning with their children or beneficiaries.’

For further information on will writing read Daniel Stansall’s - ‘Lonsdale’s Barnet IFA’s recommend you regularly update your will.’

The Financial Conduct Authority does not regulate will writing services.

 

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