It’s always a good idea, when creating a power of attorney, to appoint more than one person. This means that your best interests are always represented, when you can no longer make decisions for yourself. Prestige Tax and Trust Services explains how to get joint power of attorney.
Power of attorney
You never know what life’s going to throw at you. One day, you may become incapacitated, due to illness or injury and lose the ability to make decisions for yourself. This is why it’s a good idea to appoint a power of attorney now, while you still have the mental capacity to make decisions for yourself. This person can manage your financial and health affairs should you lose the ability to do so.
There are two types of power of attorney. The first is enduring power of attorney, which only deals in property and financial affairs. It is no longer possible to create an enduring power of attorney under UK law, but any made before October 2007 remain valid. The second is lasting power of attorney, which can deal in personal welfare, property and financial affairs and you can still make these.
In order to make a lasting power of attorney, download and complete the relevant form from the UK government’s website. You should then sign it and get your attorney(s) and two witnesses to do the same. You will then need to fill out the appropriate registration form and submit all the relevant paperwork, along with the registration fee (currently £110), to the Office of the Public Guardian.
You should carefully consider how you choose your attorney. This position comes with a significant amount of responsibility, so it is key that you select someone you trust and who has shown that they can handle their affairs. We would advise you to make multiple power of attorneys, so they can act as a check on each other. You can do this simply by naming more than one attorney in your application.
In your power of attorney form, you must specify how your attorneys should work together, when managing your affairs. You can stipulate that they act jointly on all matters, so that your attorneys can never make a decision concerning your welfare, without consensus. You can also say they should act “jointly and severally,” meaning they must make some decisions together and others separately.
You can also stipulate that your attorneys act “jointly” on some matters and “jointly and severally,” on others. An example would be if you appointed more than one financial affairs attorney. In your form, you could demand them to act jointly when managing your money, to ensure everyone acts responsibly. But you could appoint one attorney to act severally to decide where you should reside.
Prestige Tax and Trust Services
If you get a joint lasting power of attorney, they must act jointly in all matters, unless you state otherwise. There are advantages to making a joint lasting power of attorney, but there are many factors to consider, so you may want to enlist expert aid. Prestige Tax and Trust Services is experienced in handling power of attorney matters, helping you protect your interests, should the worst happen.