Gepp & Sons assists numerous people each year in preparing and registering Powers of Attorney. However, it seems to be the case that some banks still appear to not understand how powers of attorney should be used, as recently reported on Money Box with Paul Lewis.
The different documents that banks require to open accounts, some allowing this process to be done online, others requiring it to be done in person, leads to confusion for attorneys appointed. This could not come at a worse time, as the documents are often only registered with the financial institutions at the point they are needed. The attorney may at that time be facing distress on a personal scale at a member of the family's loss of capacity.
These inconsistencies need to be resolved by the banks and time will tell whether or not the Courts will enforce a process which is followed by all financial institutions, to ensure uniformity across the board.
However, if you are a client of Gepp & Sons and we have prepared your Power of Attorney and you face an issue registering the documents with the banks, please do ask the bank to contact us directly so we can be of assistance.
If we can be of any assistance in preparing a Power of Attorney or you need help with other Probate related matters please contact our Private Client department on 01245 493939 or email email@example.com