There have been a number of negative reports concerning the misuse of Powers of Attorneys by fraudulent Attorneys, on behalf of people who have entrusted the management of their affairs.
The process may indeed lack sufficient safeguards, but the crux of the problems highlighted by Mr Lush and widely reported in the mainstream media is not in respect of the process - it is the flawed choice of Attorney - and the lack of appreciation of 'right and wrong' held by the Attorney - which is to blame.
The lesson to be learned? Choose your Attorney wisely!
However, financial services firms that encourage older people to register an LPA as part of the retirement and estate planning process say these reports should not put them off.