Frettens resident Chartered Tax Advisor, Lee Young, is one of a few solicitors in Dorset to be dual qualified as a Solicitor and Chartered Tax Advisor. In this article, he provides a summary of the budget tax implications.
A general power of attorney is a simple one page document by which you can appoint someone else to act for you on your behalf should you not wish or be able to deal with your financial affairs yourself.
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This may be because you are going on a long holiday, going into hospital or perhaps because you are generally physically unable or unwilling to deal with your affairs.
Your chosen attorney will be appointed to deal with any financial affairs on your behalf and therefore should be someone you can trust. Your attorney can be anyone over the age of 18 capable of understanding what it is you are asking of them.
Should you lose capacity to deal with your own affairs the authority granted by the general power of attorney automatically comes to an end. If you wish to have a power of attorney that would last beyond your loss of capacity then you will need to set up a Lasting Power of Attorney.
