Services
General Power of Attorney
Services
A General Power of Attorney (POA) is a crucial legal document that grants one or more individuals the authority to make decisions on your behalf, either regarding personal or financial matters. Key points to consider:
Key points to consider:
- Scope of Power: You can tailor the power to specific activities or for a designated period, allowing someone to act on your behalf during times of incapacity or unavailability.
- Validity: A General Power of Attorney is valid as long as you retain mental capacity. It can be revoked orally, but for clarity, it’s recommended to cancel it in writing by marking ‘cancelled’ on the original form or tearing it up.
- Revocation: The authority granted by a General Power of Attorney ceases if you or the attorney passes away, or if either party becomes bankrupt.
Feel free to contact us for advice or assistance in establishing a General Power of Attorney.
Appointing Deputy for clients who have lost mental capacity:
- For individuals who have lost mental capacity without a lasting power of attorney, appointing a deputy may be necessary to make financial or personal welfare decisions.
The court of protection can:
- Determine mental capacity.
- Issue orders related to health, care, property, and financial decisions for those lacking capacity.
- Appoint a deputy, typically a friend or relative, who must act in the person’s best interest.
- A deputy has to provide annual deputyship report to the Public Guardian.
We can guide you through the application process and paperwork to obtain Court of Protection approval.
Will Storage:
Your Will is a critical document, and storing it properly is essential. Neglecting this aspect can lead to distress and financial loss for your family. Consider the following:Telling your executors:
Inform your appointed executors about their role and the location where the Will is stored.
The law doesn’t say where you must store your Will but, as a minimum, it should be stored in a secure and fireproof place.
- Keeping your will at your Home
- Some individuals choose to store their wills in a home safe or with important papers.
- Avoid using paperclips or staples that may suggest missing sections or amendments.
- There’s a risk of the will being misplaced, damaged, destroyed, lost, or stolen.
- If the will can’t be found, the law may assume it was intentionally destroyed, revoking it.
- Banks
- Some banks offer will storage services.
- Understand the bank’s procedures for accessing the will, both for the testator and the executors.
- Be cautious with safety deposit boxes as they aren’t accessible until probate is granted.
- Lodging your Will with Probate Services
- Deposit your will at a probate registry in person or by post, accompanied by a completed form. The Will is then stored at the Principal Probate Registry in London.
- Storage with our legal partner National Will Safe Ltd
- We can arrange secure storage with our legal partner for a small annual fee.
- Documents are scanned, and plastic identity cards are provided to executors to allow accessing documents.
- Free access for the testator, but only executors can withdraw the will after death.
- Our legal partners provide Insurance coverage for documents against loss or damage while in custody.
- Although it is not compulsory to register Wills in the UK, it is possible to register your Wills voluntarily.
- It is a fact that not being able to locate a Will causes untold distress and potential financial loss for family or beneficiaries.
- Register your will’s location so your personal representative can easily identify it in case it’s lost or forgotten.
How can we help?
Apex Estate Planners is ready to assist clients in determining their obligation to register with the Trust Registration Service (TRS) and guide them through the filing process if required. For advice or assistance, please reach out to Apex Estate Planners.
Get in touch with us today.
Disclaimer: The information on the Apex Estate Planners Ltd website is for general information only and reflects the position at the date of publication. It does not constitute legal advice and should not be treated as such. It is provided without any representations or warranties express or implied
