L P A register at banks

wonerme

To enable it easier for my sisters when I die or become unable to cope.
I have a will and L P A in place, so why do I have to be registered With my bank and a savings bank where I have account.

Thrugelmir

Might be usefull if your bank is aware of it's existance. 

Vortigern

Because the bank needs to see and validate your LPA. They'll also need proof of ID and address for your sister.

Otherwise any female could walk into the bank, show the LPA, claim to be your sister and empty your account

kipsterno1

My father had a LPA for his finances and I was the attorney. When it became necessary to start managing his money for him and register it with his bank one thing that made it easier (although they still rightly did all the necessary checks) was the fact I had an account with the same bank and they had all my detail.

Ciprico

It won't make it easier when you die. When that happens the POA immediately expires and all your  accounts are frozen. 

Aristotle67

kipsterno1 said:

My father had a LPA for his finances and I was the attorney. When it became necessary to start managing his money for him and register it with his bank one thing that made it easier (although they still rightly did all the necessary checks) was the fact I had an account with the same bank and they had all my detail.

It will also make it easier when the person in question passes away. I lost my good lady over Christmas; I was her next of kin and executor of her estate and because we both had accounts with the same bank it made some of the processes simpler and quicker.

Ciprico said:

It won't make it easier when you die. When that happens the POA immediately expires and all your  accounts are frozen. 

Yes, and then it becomes the responsibility of the executor(s) named in the will to manage the estate and sort out the accounts. Where there is, or was, a PoA the attorney will often be named as the executor. If the deceased died intestate, a PR will be appointed by the court; this is usually a family member. If the executor or PR is also a customer of any bank where the deceased had an account, this will help.