Power of attorney changes
Something we have discussed on various threads is now being updated
The Powers of Attorney Act 2023 aims to digitise the process and make it faster, easier, more accessible and secure. It will: speed up registration time by picking up errors earlier and allowing these to be fixed online. allow checks on the identity of those applying for an LPA to prevent fraud
However it doesn’t go far enough and the law society (and I) had concerns before it was agreed
https://www.lawgazette.co.uk/news/society-voices-genuine-concerns-about-power-of-attorney-reforms/5110158.article
As some of us may have seen on a recent tv show, a friend or relative talks, convinces or sneakily registers a vulnerable person for online banking after gaining their trust and then sets up standing orders or transfers money into other accounts. This is even before a POA! No one checks the persons capability to use the systems and the bank cannot see the person typing in details. I know a blind couple who had no idea and had not requested an online account who now do not get bank statements whilst two relatives, one that has moved in with them check, filter, shop, transfer and make payments without any discussion or permission of the account holders.
So it is no less likely for those prepared to do so, to do the same with one. Even taking the POA out totally online. Then receiving the new online key to notify banks and other institutions that they are now able to act on behalf of the person or persons.
What do members think 🤔 of the reforms?
A newer link from the law society
https://www.lawsociety.org.uk/topics/private-client/powers-of-attorney-act
The Powers of Attorney Act 2023 aims to digitise the process and make it faster, easier, more accessible and secure. It will: speed up registration time by picking up errors earlier and allowing these to be fixed online. allow checks on the identity of those applying for an LPA to prevent fraud
However it doesn’t go far enough and the law society (and I) had concerns before it was agreed
https://www.lawgazette.co.uk/news/society-voices-genuine-concerns-about-power-of-attorney-reforms/5110158.article
As some of us may have seen on a recent tv show, a friend or relative talks, convinces or sneakily registers a vulnerable person for online banking after gaining their trust and then sets up standing orders or transfers money into other accounts. This is even before a POA! No one checks the persons capability to use the systems and the bank cannot see the person typing in details. I know a blind couple who had no idea and had not requested an online account who now do not get bank statements whilst two relatives, one that has moved in with them check, filter, shop, transfer and make payments without any discussion or permission of the account holders.
So it is no less likely for those prepared to do so, to do the same with one. Even taking the POA out totally online. Then receiving the new online key to notify banks and other institutions that they are now able to act on behalf of the person or persons.
What do members think 🤔 of the reforms?
A newer link from the law society
https://www.lawsociety.org.uk/topics/private-client/powers-of-attorney-act
