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Power of attorney errors that could lose control of your money

Friday August 11, 2023

The fear of losing control of you money is rightly massive. Appointing someone you trust to manage your affairs should provide peace of mind – but the process to set up a lasting power of attorney (LPA) can be complicated, and is riddled with things that can trip you up.

Here’s a excerpt from a Telegraph article going over this in more detail:

From submitting shortened names to using too much Tippex, even small errors could drag out the process – which already takes around 20 weeks – or mean your attorney gets rejected by banks when it’s too late for you to make any changes to the LPA.

In fact, new Freedom of Information data from the Office of the Public Guardian (OPG), obtained by Quilter, the wealth manager, reveals that since 2018 nearly 130,000 LPA applications have been rejected due to mistakes.

You can read more HERE

To make sure there are no mistakes on your LPAs, get in touch!

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