Reported in the Daily Mail on 17 October are details of a 90 year old who is being prevented from accessing his savings to pay his care fees by the Yorkshire Building Society who says it cannot recognise his signature. The elderly pensioner is still sound of mind and wishes to retain control of his financial affairs. Despite this he had granted a Power of Attorney to his son 5 years earlier. The Society had requested the son to register the Power on the fathers account.
This gave rise to further enquiries by the Money Mail which unearthed widespread incompetence by Britain’s Banks and Building Societies in accepting Powers of Attorney and the insensitivity of staff within those organisations who apparently do not understand the rules concerning them.
What is essential is the correct preparation and registration of a Power of Attorney before it is used on behalf of an elderly relative or loved one. The document must have been accepted and fully stamped by the Office of the Public Guardian prior to use. Any mistakes in the Power of Attorney or the registration form will cause the Office to return it.
To ensure peace of mind use a professional ,such as myself, to prepare the documentation and deal with the registration.