Posted: Thursday, 10 May 2018 @ 14:04
With the rising number of Lasting Power of Attorneys being done, you are also seeing a rising number of frauds coming out of the woodwork. For example, a Lincolnshire woman has been warned she could be jailed before Christmas after she admitted a £50,000 fraud.
The offence occurred between November 20, 2012 and December 30, 2013 with the fraud charge stating that the position of lasting power of attorney and incurred unauthorised expenditure from a couple's bank account for items for her personal benefit.
It just goes to show that the most important variable in doing the lasting power of attorney is getting it right in selection of the attorney.
Frankly, in the wrong hands the Lasting Power of Attorney is a license to print money. In this case the woman got caught but sadly, more often than not, they get away with it.