A Straightforward Guide to Getting the Best Out of Your Retirement by Patrick Grant

Author:Patrick Grant
Language: eng
Format: epub
Publisher: Straightforward Publishing

Power of attorney

You probably gave your solicitor a power of attorney when you sold your flat; you may have given a power of attorney to your partner when you had to go on an overseas business trip but wanted to buy some shares in the UK. A power of attorney simply gives a person the power to act for somebody else in their financial affairs or in health and personal welfare. (Rules in Scotland are different). The power of attorney you gave your solicitor was probably an ordinary power of attorney, created for a set period of time and for a specific piece of business. That all seems very practical, you may think, but why should you give anyone a power of attorney? The short answer is that if you are away or fall ill, you will need someone to look after your affairs - and that requires a power of attorney. (If this happens and you had not given a power of attorney, your friends and relatives would have to go to court, which would take time and cost money)

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