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Alex J.
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When acting for an attorney under a LPA can the funds from

Resolved Question:

When acting for an attorney under a LPA can the funds from the proceeds of the sale go into the Attorneys bank account or do they need to go to the Donor's?
Submitted: 2 years ago.
Category: Law
Expert:  Alex J. replied 2 years ago.
Hi,
Thank you for your question and welcome.
My name is ***** ***** I will assist you.
There is no problem with this per say. You may however note the following:
1. You must try to avoid mixing the monies with your own, the money should be clearly identifiable in an account;
2. If you go bankrupt, then donor will be left to argue with your trustee in bankruptcy that these are in fact their funds but held by you;
3. If there is any complaint from the donor or interested party about your conduct as LPA, they will likely use the fact that you did this as indicative behaviour of wrong doing.
While doing this per say is not prohibited, if anything ever goes wrong or you are accused of something (like not acting in the donors best interests) this will likely be used against you. Therefore if you are going to do this, keep very accurate records of the monies.
Kind regards
AJ
Alex J., Solicitor
Category: Law
Satisfied Customers: 3557
Experience: Solicitors 2 years plus PQE
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