Award for the stupidest advice we’ve heard this year…
Goes to a solicitor who told a client you don’t need a Lasting Power of Attorney until you are in your 80s.
This is what one of Michelle’s clients were told. We were that shocked we felt the need to do an episode on what a Power of Attorney is and why you need one.
You get 2 kinds – a welfare power of attorney, and a financial power of attorney.
You need both. And before you hit your 80s!
They basically allow for someone who has your best interests at heart to make decisions for you if you are unable to do so yourself.
If you wait until you need one, it’s probably to late. A bit like trying to get life cover after a critical diagnosis. You can seek legal advice to put one in place, or arrange yourself via the links below.
Resources:
MSE article
Scotland Office of Public Guardian
England & Wales
Northern Ireland Department of Justice
YOUR HOSTS
Julie Flynn is an experienced independent financial adviser and financial coach. Justice and equality drive Julie. Which is why she’s spent years studying and researching how stress affects our financial decision making.
She uses her years of experience and research to support women experiencing or planning significant change in their lives.
Julie is best known for her work with women who have lost their partner and coaching financial services business who want to implement fair and transparent charges.
Ebb & Flow Financial Coaching | Bree Wealth & Tax | Instagram
Emily Pool is a Financial Planner and Will Writer and Founder of Happy Planet Financial Planning and is passionate about empowering people to invest their wealth (pensions and savings) sustainably and in line with their personal values.
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