Select a region

Power of Attorney

Under the laws of England and Wales, a Power of Attorney allows you to appoint another person to deal with your affairs should you become unable to do so, whether through illness, injury, convenience if you have become frail or simply being in another country.

Over the last few years these important documents have become more commonly seen due to longer life expectancies and an increase in conditions such as dementia.

It’s worth bearing in mind that financial institutions are strictly regulated and will not release information to a third party without proper authorisation. Having a Power of Attorney in place helps ensure that your affairs won’t be compromised by the inevitable delays which otherwise could occur if the authorities (namely the Office of the Public Guardian) were to supervise your affairs.

Contact us

For enquiries or more information:

T: T + 971 (0)4 389 4900
E: info@thefrygroup.ae

WHAT IS A POWER OF ATTORNEY?

A Power of Attorney is a legal document which allows you to nominate an ‘attorney’; someone to look after your affairs and make decisions on your behalf if you are no longer able to do so. It ultimately acts as something of an insurance policy in case you become physically or mentally incapacitated in the future.

If a Power of Attorney is not in place and you lose the capacity to make decisions for yourself, your family could face a long and expensive court process to gain control of your affairs.

TYPES OF POWER OF ATTORNEY

Different types of Power of Attorney can be set-up depending on your individual circumstances and needs.

ORDINARY POWER OF ATTORNEY

An Ordinary Power of Attorney allows you to nominate one or more individuals to make financial decisions on your behalf. It can be used when you still have the mental capacity to make decisions on your own but are planning to be away for a temporary period of time, such as a planned hospital stay or extended holiday. It can also be useful if, for example, you are finding it progressively harder to visit your bank in person. An Ordinary Power of Attorney remains valid as long as you retain your mental capacity. If this changes, you may need to consider a Lasting Power of Attorney. It is also quick and easy to set up.

LASTING POWER OF ATTORNEY

A Lasting Power of Attorney (LPA) allows your selected individual to make decisions on your behalf if you lose the mental capacity to do so yourself. There are two types of LPAs; one covering financial decisions and the other for health and care decisions.

A Lasting Power of Attorney covering financial decisions means your nominated person can manage your bills, mortgage, investments and buy and/or sell property. An LPA relating to health and care allows your attorney to make decisions about things like where you should live and your medical care.

ENDURING POWER OF ATTORNEY

Many people may still hold an Enduring Power of Attorney (EPA), although these documents were replaced over a decade ago with LPAs. Thankfully EPAs are still legal documents as far as your finances are concerned, and generally work in exactly the same way as a Lasting Power of Attorney, except for the need for the Power to be registered should you lose capacity.

SETTING UP A POWER OF ATTORNEY

Choosing who to act as your ‘attorney’ can be difficult. You need to find someone who you trust to always act in your best interests, and who you can rely on to deal with the responsibility that comes with the role. Generally, most people will choose a loved one, like their spouse or child to act on their behalf together with a professional. If your children are leading busy lives, it may well save them a good deal of strain to have somebody independent taking control of the finances and looking after matters day-to-day. This may be even more relevant if your children do not get on.

If you are ready to set up a Power of Attorney, do consider using a professional firm. While there are options to manage the process yourself, any Power of Attorney is an important document which needs to be robust. Using an expert will offer you peace of mind and security, especially as not all of the documentation available will include sensible tools to permit modern investment management.

HOW CAN WE HELP?

We have extensive experience in helping set up Powers of Attorney and our team of specialists can help you navigate the entire process. We can also act as your Attorney, if and when needed.

If you would like to discuss your financial affairs, and the process of setting up a Power of Attorney, please contact your nearest office. We can also help you review any existing EPA or LPA, and update with a revised LPA if needed.

+44 (0)1903 231545

Contact Us

If you have a minimum £250,000 to invest and would like to speak to someone about your Tax, Estates or Financial Planning, we’d love to hear from you. Complete the form below to arrange an initial 15-minute introductory call with a member of the team.

"*" indicates required fields

First Name*

Last Name*

Email*

TEL*

COUNTRY OF RESIDENCE*

Unfortunately due to regulatory constraints we are unable to advise residents in your region. However, if you are planning a move in the near future, we would be happy to have an exploratory call to understand how we may be able to help.

How much are you looking to invest? (approx)*

MESSAGE*

Untitled*

We will use your personal information to contact you about the services that you have requested or respond to an enquiry that you have submitted, which will require us to share your personal information within the Progeny group of companies. Our jurisdictions of operation include the United Kingdom, Belgium, Singapore, Hong Kong, and the Dubai International Financial Centre (DIFC) in the United Arab Emirates. By clicking the button, you consent to allow Progeny to store and process the personal information entered above.

Untitled

By ticking this box you are signing up to receive regular updates. You can unsubscribe at any time by clicking the link in the footer of our emails. By providing personal data you agree to our Privacy Policy.

Click here to read our Privacy Policy.

All you need to know about power of attorney’s

What is a Lasting Power of Attorney?

A Lasting Power of Attorney is a legal document which appoints one or more people (referred to as “Attorneys”) to help you make decisions or to make decisions on your behalf, if you are no longer able to make or communicate those decisions yourself.

There are two types of Lasting Powers of Attorney

Health and Welfare
Property and Financial Affairs

You can choose to make one type or both.

How long does a Power of Attorney last?

A Power of Attorney can end for a number of reasons, primarily when a donor passes away, the donor revokes the documentation, or when the donor divorces their spouse/partner who happens to be appointed as an attorney.

How many Attorneys can you appoint?

There is no limit to the number of people you can name as an Attorney when making a Lasting Power of Attorney, although, it is common to only appoint between one to four Attorneys. You can also appoint replacement Attorneys to step in should one of the original Attorneys becomes unable or unwilling to act.

If you only appoint one Attorney and that person is unable or unwilling to act, perhaps because they have predeceased, no one else would have the authority to take their place. For this reason, it can be a good idea to appoint more than one Attorney, but there are factors you’ll need to consider when appointing multiple Attorneys.

Is my Enduring Power of Attorney still valid?

Enduring Powers of Attorney were the legal instrument used before Lasting Powers of Attorney were introduced on 1 October 2007. It is no longer possible to make an Enduring Power of Attorney as they have been replaced by a Property and Financial Affairs Lasting Power of Attorney. Nevertheless, an Enduring Power of Attorney signed prior to 1 October 2007 is in fact still valid.