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A person can appoint someone to act as their
Attorney and sign documents on their behalf - the common Power of Attorney's are:
General Power of Attorney - person appointed can sign
any document on the Appointor's behalf
Specific Power of Attorney - limits the person appointed to sign only in relation to the item specified:
i.e. my property 25 Anywhere Street
The one thing these Powers have in common is if the
person who gave them the Power becomes mentally incapable they are automatically revoked.
It then means applying to the Court Of Protection to be appointed Receiver but the Court oversees everything, says where any money has to be invested, requires accounts for every penny spent (literally) being submitted yearly and on top of that charges a healthy
fee (Solicitors usually become involved as well - need we say more).
The Alternative:
Enduring Power of Attorney
This Power of Attorney is different in that if the person giving
the power becomes mentally incapable it is not revoked. All that is required in that
case is to register it but the Attorney carries on as before without the involvement of
the Court of Protection.
So our advice is anyone who has a elderly relative with assets
they should get them to do an Enduring Power of Attorney (whilst they are able mentally) ~
hopefully it will never be required but believe us, if it is, you will save a lot of
expense, time and hassle than having to go to the Court of Protection.
We can prepare an Enduring Power of Attorney for your relative
for a fixed fee of £35.00.
What price Peace of Mind? Get them to do a Will as well!
To request an instruction sheet or make
any enquiry please email us at info@writewills.co.uk or write to
the address below:-
The Write Will Service
2 Shepard Close
Leigh on Sea
Essex
SS9 5YR
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