Use of the power of attorney in the UK is an important protocol for people seeking to sort out financial affairs.
Effectively it signs over responsibility and freedom of action to a third party, typically used with groups such as the elderly.
It can also be used by those seeking to use financial experts to determine affairs, but it does hand over a great deal of power.
The most common instances of this process are the ordinary power of attorney and the enduring power of attorney.
Ordinary power of attorney is used for specific instances and occasions, while enduring is used in the event of mental capacity. |