Donor Certified Copy of LPA not accepted by Financial Institution

Discussion in 'Legal and financial issues' started by northumbrian_k, May 3, 2019.

  1. nitram

    nitram Registered User

    Apr 6, 2011
    19,253
    Male
    North Manchester
    The letter would have been read on a screen, the whole idea is to get rid of all paper and store everything electronically and instantly accessible to anybody with authority.
     
  2. BeardyD

    BeardyD Registered User

    Jan 19, 2016
    89
    I had this problem with a couple of banks. The solution was to write a factual letter to the complaints department, you should find the address on the bank's website. I included my phone number and email address but in each case I got a phone call by return from someone who became my personal contact until the problem was solved.

    At one bank the contact could see the problem and said to send the LPA to him. The second bank were more insistent on having their words on every page of the LPA. I explained that my wife could no longer write (slight exaggeration) and they decided that instead I could write a covering letter that my wife would countersign. I explained that my wife's signature was little more than making her mark but it satisfied their need for paperwork and went through.

    It was the traditional banks that were the problem. The Internet banks seem to understand that there has been life since the quill pen.
     
  3. northumbrian_k

    northumbrian_k Registered User

    Mar 2, 2017
    868
    Male
    Newcastle
    My wife decided that her 30-day notice account was not fit for purpose now that residential home fees are payable. She closed the account on-line and transferred the funds to a more accessible pot with a different bank, to which I already have representative access. Simpler than going through the hoops needed to get Attorney access with the original financial institution.
     
  4. northumbrian_k

    northumbrian_k Registered User

    Mar 2, 2017
    868
    Male
    Newcastle
    The tale grows in the telling. I went to see our Independent Financial Adviser today and he happily took a photocopy of the original Lasting Power of Attorney for use in his office. However he said that (unlike the example in my original post) the company that manages one of my wife's investments will not accept copies 'certified' by someone representing a company registered with the Financial Conduct Authority. They require copies to be certified by a solicitor or notary using the wording set out in the guidance given by the Office of the Public Guardian. I suggested that they should also accept a Donor certified copy (as per the guidance) and left one with him to forward on, perhaps with a link to the relevant page of the guidance. I'll wait with interest to see what happens next.
     
  5. northumbrian_k

    northumbrian_k Registered User

    Mar 2, 2017
    868
    Male
    Newcastle
    Does the following section in effect mean the same as the OPG guidelines with the exception that 'with capacity' is not mentioned?

    3 Proof of instruments creating powers of attorney.
    (1)The contents of an instrument creating a power of attorney may be proved by means of a copy which—
    (a)is a reproduction of the original made with a photographic or other device for reproducing documents in facsimile; and
    (b)contains the following certificate or certificates signed by the donor of the power or by a solicitor [F4, authorised person ] or stockbroker, that is to say—
    (i)a certificate at the end to the effect that the copy is a true and complete copy of the original; and
    (ii)if the original consists of two or more pages, a certificate at the end of each page of the copy to the effect that it is a true and complete copy of the corresponding page of the original.
     
  6. nitram

    nitram Registered User

    Apr 6, 2011
    19,253
    Male
    North Manchester
    Yes, it leaves the capacity to sign at the time of signing to be decided elsewhere.

    Similarly anybody using a self certified copy can be challenged as to the capacity of the donor when signing.

    The OPG is in effect saying that only people with capacity should sign.
     
  7. northumbrian_k

    northumbrian_k Registered User

    Mar 2, 2017
    868
    Male
    Newcastle
    To complete the story, I have today received back the donor certified copy that was sent to, and accepted by, the company that looks after one of my wife's investments. It is good to know that at least some organisations play by the OPG guidelines and know to return documents.
     

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