new power of attorney

dzug1

cashdesk wrote: »

My wife is going back to her own country in the next few weeks and wants to give me POA over all of her affairs. She has a few debts here and I will be dealing with them on her behalf.

Do we still need this new LPA or can we just have an informal agreement?

Depends on what you actually need to do on her behalf and how far you have joint accounts already.

Some (not all) banks will allow a third party authority on accounts, just by filling in a form and providing ID. Others will insist on a full LPoA.

If you are making investment decisions - or cashing in investments - the LPoA is almost certainly necessary. If you are just paying the odd bill or settling the odd debt, then maybe not.

No institution will recognise an 'informal agreement'.

cashdesk

Hi Dzug1,

I will bedealing with her creditors once she leaves, to let them know that she cannot pay them as she hs zero income. I may even represent her at bankruptcy proceedings i it comes to that.

Writing it down like that, I realise I will probably need a full LPoA.

Willman_Rodders

Cashdesk,

The LPA (Lasting Powers of Attorney) comes in two formats - 'Personal Welfare' and 'Property and Affairs'. Both give powers to the attorney when the donor has lost the mental capacity to make decisions on their own. Also, both need to be registered with the Office of the Public Guardian before the attorney can act.

From your post I don't think your wife is loosing her mental capacity. Therefore you need an ordinary General Power of Attorney - not an LPA. The GPA document is simple, it does not need to be registered anywhere, and is therefore cheaper to create. The drawback is that the donor cannot place any restrictions on the attorney's powers, and certain transactions are not allowed.

cashdesk

Many thanks, Willman.

Can you point me in the direction of a GPA form and details of what it allows me to do?

Many thanks,

Cashdesk

dzug1

Willman_Rodders wrote: »

Cashdesk,

The LPA (Lasting Powers of Attorney) comes in two formats - 'Personal Welfare' and 'Property and Affairs'. Both give powers to the attorney when the donor has lost the mental capacity to make decisions on their own. Also, both need to be registered with the Office of the Public Guardian before the attorney can act.

.

The Property and Affairs one does not only come into effect when the donor has lost mental capacity - should the donor so direct, it comes into effect as soon as registered.

But agree that it's not necessary in this case. A GPA (Scotland) or OPA (England/Wales) is what's needed. I'd not realised they still existed. This site

http://www.clickdocs.co.uk/power-of-attorney.htm

will sell you the forms

Biggles

dzug1 wrote: »

But agree that it's not necessary in this case. A GPA (Scotland) or OPA (England/Wales) is what's needed. I'd not realised they still existed. This site
http://www.clickdocs.co.uk/power-of-attorney.htm
will sell you the forms

I think you can buy them in stationers. eg WH Smith. I don't think you even need a specific form, just the form of words that needs to be used.