Why buy to let landlords need to set up lasting powers of attorney
Have you ever tried to deal with another person's banking or utilities accounts without their permission? The reason it's so difficult is that the Data Protection Act exists to ensure that client confidentiality is maintained.
If for some reason you are mentally or physically incapable of providing the required authority for a third party to act in your best interests, can you imagine the extent of the problems this could cause? Lasting Powers of Attorney deal with these problems, and we should all have them in place.
Drawing up Lasting Powers of Attorney and reviewing your Will is a very cost effective way to get peace of mind compared to the potential expense of not being prepared. Our recommended suppliers specialise in providing advice to property investors and are likely to understand your requirements far better than a solicitor or accountant who may not work with Landlords on a regular basis.
To find out more about powers of attorney contact us today.