The following Private Client guidance note provides comprehensive and up to date legal information covering:
The precedents in this document are based on those found in Part I, Chapter 15 of Cretney and Lush on Lasting and Enduring Powers of Attorney.
This document contains precedent wording suitable for inclusion in financial lasting powers of attorney (LPAs). For precedent wording appropriate for health and care LPAs, see: LPA precedent instructions and preferences—Health and care LPAs. For precedent wording suitable for inclusion in either financial or health and care LPAs, see: LPA precedent instructions and preferences—Financial and Health and Care LPAs.
‘My attorneys shall only act under this power if they have obtained a written medical opinion stating that I am no longer mentally capable of managing and administering my property and financial affairs. I give my attorneys authority to obtain a medical opinion for the purpose of establishing that they can act, and for the avoidance of doubt, I give my consent to the disclosure of confidential information to my attorneys.’
The 2015 prescribed financial LPA form states in section 5, ‘When do you want your attorneys to be able to make decisions?’ and allows the donor to tick the box ‘Only when I don't have mental capacity’. It goes on to warn, ‘Be careful—this can make your LPA a lot less useful. Your attorneys may be asked to prove you do
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