If you wish to alter an existing ‘lasting power of attorney’ agreement, keep reading. Prestige Tax and Trust Services explains how to change your Lasting Power of attorney.
Lasting Power of Attorney
One day, you may no longer be capable of managing your financial or personal decisions. You may need to appoint someone to deal with these matters– or make a ‘lasting power of attorney.’ Under UK law, making a lasting power of attorney and registering it with the Office of the Public Guardian (OPG), allows you to name someone to make decisions on your behalf if you’re no longer able to.
Instead, you may have heard of an ‘enduring power of attorney,’ which is basically the same thing. The former could be used straight away, after it had been signed by all parties involved. The latter only comes into effect once it’s been registered with the OPG. However as of October 2007, you can only create a lasting power of attorney.
Altering the agreement
We’ve previously explained that you can end your lasting power of attorney agreement. To complete this process you must send a ‘deed of revocation,’ the wording of which we revealed in an earlier blog post, to the OPG. You must be able to make your own decisions, legally speaking, when you end your lasting power of attorney.
However, you can also change your lasting power of attorney if say, for example, you wish to remove one person from the agreement but otherwise leave it in place. To do this you must send a ‘partial deed of revocation,’ along with your original lasting power of attorney form, to the OPG. You must also inform your attorney/attorneys of this change.
Partial deed of revocation
Use the following wording, replacing the words in brackets with your relevant details, for your partial deed of revocation: “This partial deed of revocation is made by [your name] of [your address].
1: I granted a lasting power of attorney for Property and Financial Affairs/Health and Welfare [delete as appropriate] on [date you signed the lasting power of attorney] appointing [name of first attorney] of [address of first attorney] and [name of second attorney] of [address of second attorney] to act as my attorney(s).
2: I hereby revoke [attorney’s name that you are revoking] ONLY from the lasting power of attorney and the authority granted to him/her.
3: Signed and delivered as a deed [your signature] Date signed [date].Witnessed by [signature of witness]. Full name of witness [name of witness] Address of witness [address of witness].
Prestige Tax and Trust Services
Lasting power of attorney law can be complicated, so if you want to change an existing lasting power of attorney agreement, let Prestige Tax and Trust Services lend a helping hand. Our team has the knowledge and experience you require to ensure you can appoint someone to make legal decisions on your behalf, if you can no longer do so yourself.