Attorneys powers to make gifts
There have been a number of cases where, for whatever reason, Attorneys have not always adhered to their obligations when it comes to considering gifts.
An Attorney’s powers to make gifts is limited. If, for example, the Donor of a Power of Attorney is used to making a gift of £100 to their grandchildren on the occasion of a birthday or Christmas then if, having regard to the value of their estate as a whole, that gift is reasonable, then the Attorney may continue to make such gifts.
This power to make gifts is not an invitation for the Attorney to be extravagant with the Donor’s money nor is it an authority for the Attorney to deal with the Donor’s money as if it were their own.
Unfortunately, there have been a number of cases where the Attorney under a Power of Attorney has not acted in the Donor’s best interests – in one case the court revoked a Power of Attorney and described the Attorney as having “callously and cynically manipulated this account for his own advantage”.
So Attorneys, always act responsibly and in accordance with the law and remember it is not your money.