{"id":485,"date":"2011-06-02T10:11:54","date_gmt":"2011-06-02T10:11:54","guid":{"rendered":"http:\/\/www.wills-etc.co.uk\/index.php\/?p=485"},"modified":"2011-06-02T10:11:54","modified_gmt":"2011-06-02T10:11:54","slug":"guidance-series-lasting-powers-of-attorney","status":"publish","type":"post","link":"https:\/\/www.wills-etc.co.uk\/index.php\/2011\/06\/guidance-series-lasting-powers-of-attorney\/","title":{"rendered":"Guidance Series: Lasting Powers of Attorney"},"content":{"rendered":"

1. MONEY \u2013 DON\u2019T MIX FUNDS!<\/p>\n

Being an attorney can be quite onerous so I am doing a guidance series all about Lasting & Enduring Powers of Attorney. This being the first one I am covering the cardinal rule about money.<\/p>\n

Firstly what do I mean about money?<\/p>\n

When I talk about money or funds, I mean all types of liquid assets of the donor. This includes all money held in banks and building societies whether in current, deposit or ISA accounts. I also include all types of investments, for example bonds, National Savings, shares and portfolios.<\/p>\n

In basic terms if the asset can be easily sold or liquidated it is counted as money\/funds of the donor. When dealing with the donor\u2019s funds, it is imperative that an attorney ensures that they are kept completely separate from his\/her own.<\/p>\n

Whilst it is OK to change investments, for example switch a bank account to another one offering better interest rates. AN ATTORNEY SHOULD NEVER EVER PUT THE DONOR\u2019S MONEY INTO HIS\/HER OWN ACCOUNT.<\/p>\n

I also don\u2019t think that JOINT ACCOUNTS are a good idea either. As it gets difficult to work out what percentage of the money is the donor\u2019s and which is the attorney’s. This can also cause arguments when there is more than one attorney.<\/p>\n

If you are an attorney and need advice on this topic, please contact me.<\/p>\n","protected":false},"excerpt":{"rendered":"

1. MONEY \u2013 DON\u2019T MIX FUNDS! Being an attorney can be quite onerous so I am doing a guidance series all about Lasting & Enduring Powers of Attorney. This being the first one I am covering the cardinal rule about money. Firstly what do I mean about money? When I talk about money or funds, […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-485","post","type-post","status-publish","format-standard","hentry","category-blog"],"yoast_head":"\nGuidance Series: Lasting Powers of Attorney -<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.wills-etc.co.uk\/index.php\/2011\/06\/guidance-series-lasting-powers-of-attorney\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Helen Eynon\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" 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