Media Centre

4th January 2017
Lasting Power of Attorney

lasting power of attorney
You may not be aware that your lasting power of attorney (LPA) should always include explicit permission to outsource investment decisions to a Discretionary Fund Manager (DFM).

If you did not realise that you have to be explicit about these wishes, you are not alone. Many people are not aware that an LPA must include express power before delegating decisions to a Discretionary Fund Manager (DFM). But without it, investment dealings will often be refused.

It is within your best interest to guarantee that your LPA includes the express power described above. This will ensure that your investments can continue to be managed in the event that your LPA is required. You may wish to discuss this matter with your attorney or solicitor to ensure the necessary permission is in place, as this is an area of growing concern for the legal and financial sector.