A Power of Attorney (POA) is someone chosen by you to make decisions and manage your financial affairs on your behalf.
This gives you more control over what happens to you if you have been diagnosed with a condition that may mean you are unable to make decisions for yourself in the future. You may choose a family member, a friend or a professional service such as a solicitor.
If you are thinking of setting up a Lasting Power of Attorney read our article which outlines a few things you need to know and consider.
Deputyship is where a person is appointed, by a Court Order from the Court of Protection, to manage the property and affairs of another person who lacks the capacity to manage this for themselves.
Unlike a release of information instruction, people appointed by a POA or Deputyship can instruct investment changes and withdrawals. Withdrawals will only be paid into a bank account bearing the name of the account holder.
We can help the person appointed by a POA or Deputyship to register to use our online service. They will need to register in their own name, then terms and conditions will be sent for them to gain online access to the account. This can be an easy way for them to process requests for you and view your investment.
You can contact the Office of the Public Guardian for help deciding if you should make a power of attorney.
Office of the Public Guardian
Telephone: 0300 456 0300
Textphone: 0115 934 2778
Further support and information can be found here: www.gov.uk/power-of-attorney
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