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Financial institutions adhere to strict regulations and will not disclose information to a third party without proper authorisation. A Power of Attorney empowers you to designate another person to manage your affairs if you are unable to do so, due to illness, injury, frailty, or being in another country.
In recent years, Power of Attorney has become more significant, mostly because of higher life expectancies and a rise in conditions like dementia.
A Lasting Power of Attorney (LPA) empowers your chosen representative to make decisions on your behalf in the event of your mental incapacity. There are two categories of LPAs: one for financial decisions and the other for health and care decisions.
An LPA for financial decisions grants the designated individual the authority to handle matters such as bills, mortgages, investments, and property transactions. Meanwhile, an LPA concerning health and care can make decisions regarding aspects like your residence and medical care.
A Lasting Power of Attorney (LPA) empowers your chosen representative to make decisions on your behalf in the event of your mental incapacity. There are two categories of LPAs: one for financial decisions and the other for health and care decisions.
An LPA for financial decisions grants the designated individual the authority to handle matters such as bills, mortgages, investments, and property transactions. Meanwhile, an LPA concerning health and care can make decisions regarding aspects like your residence and medical care.
If you are ready to establish a Power of Attorney, it is advisable to engage a professional firm. While there are self-managed options, the expertise of professionals ensures peace of mind and security, particularly since not all available documentation incorporates sensible tools for facilitating investment management.
We at Edgemont Financial Services have extensive experience in helping set up Lasting Powers of Attorney and our team of specialists can help you navigate the entire process.
If you are ready to establish a Power of Attorney, it is advisable to engage a professional firm. While there are self-managed options, the expertise of professionals ensures peace of mind and security, particularly since not all available documentation incorporates sensible tools for facilitating investment management.
We at Edgemont Financial Services have extensive experience in helping set up Lasting Powers of Attorney and our team of specialists can help you navigate the entire process.
If you have a question or would like any further information, message us now!
Edgemont Financial Services Limited / Registered in England and Wales No: 11327586.
Edgemont Financial Services Limited is directly authorised and regulated by the Financial Conduct Authority. Edgemont Financial Services Limited is entered on the FCA Register (www.fca.org.uk/register) under reference 842215.
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