Lasting powers of attorney: considerations for accountants

Lasting powers of attorney (LPAs) are a vital part of estate planning and give direction over financial affairs, explain Richard McDermott, partner, and Georgina Gavins, associate, Farrer & Co

It is hugely important that client advisers such as accountants have a strong working knowledge about the scope and effect of Lasting Powers of Attorney (LPAs). LPAs form a fundamental part of virtually all estate planning strategies, acting as an essential safeguard against the risk of the client losing capacity to make decisions themselves. As such, there are several best practice points and key considerations for accountants to keep in mind when discussing LPAs with clients.

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