Mark Keenan, Partner, with Bethan Byrne, Managing Associate and Stuart Adams, Associate in Mishcon Private, recently commented on Lasting Powers of Attorney in the Express.
In the article they provided advice on how to minimise the risks of LPA abuse.
They said, “It is impossible to say with any certainty that a chosen attorney, even a trusted family member, will not misuse the power, either carelessly or intentionally, but the danger is greater if you do not take legal advice."
They also advised including a supervision clause to ensure the attorney is accountable for a third party, and ensuring the attorney is obliged to supply copies of bank statements or consult before making major decisions.
“The LPA should expressly state the things that an attorney cannot do, for example, they should have only limited power to make gifts”
Read the full article here.