powers of attorney

Who are they for- how do they work

Yes, first off, many of us conjure an image of an old person having dementia. And, of course, many of us also  know that this is more and more common. and a totally deliberating illness.  

And, yes, that Dementia person’s family will have much heartache without the added strain of having many institutions seemingly adding burdens to our needs when we look to arrange their affairs on their behalf. 

“1 million people will, sadly, suffer from the debilitating symptoms of dementia in the UK by 2025 and this will double by 2050.” Alzheimer’s Research UK

british Bankers' Association Guidance for people wanting to manage a bank account for someone else:’

If one joint account holders loses mental capacity, banks and building societies can decide whether or not to temporarily restrict the use of the account to essential transactions only …. until a Deputy has been appointed or a Power of Attorney registered.’

Yes- Even Joint Bank Accounts

We all know that we can’t talk to a mobile phone provider, or our electricity provider or even sky TV unless we have authority from the account holder, or they are present on the call. 

So, what if a joint account Mortgage payment was withheld, or you were unable to access your partner’s Bank account, or your joint account.  It is the law that anyone who loses capacity comes under the jurisdiction of the Court of Protection.  Banks are obliged to abide by these laws.

               And it isn’t just old people who can have a problem! 

How would a Business Suffer?

  • What happens if you lose capacity and own or run a Business. Who steps in? Who decides? 

What happens when Banks  won’t authorise Payments

  • Payroll. 
  • Suppliers. 
  • Loan Repayments
  • Tax Bills