At this time of year many people are planning to take some time out. It may be students taking a break before or after university or increasingly those taking a career break or a grey gap year in retirement.
Gap years should be pivotal life experiences providing nothing but happy memories, but things can go wrong and local solicitor Frank Cook from Stones Solicitors LLP is calling on people to put sufficient plans in place to deal with any potential problems.
He says: “With modern technology the word is shrinking and it is now possible to stay in touch with your affairs at home much more easily than used to be the case. However, if something does go wrong and you are on the other side of the world how will you resolve matters?
According to Frank, for many people the answer may lie in drawing up a power of attorney to formally appoint someone else to manage your financial affairs if required. Anyone who has had to assist someone in managing their financial matters knows how hard it can be particularly when dealing with institutions such as banks and building societies who quite rightly are very careful as to what information they can give and to whom.
However, if someone is appointed an attorney on your behalf they could, for example, under your instruction resolve problems with transfers of money, assist in obtaining lost or stolen bank cards or pay bills and liaise with mobile telephone operators to the same extent as if you were doing it for yourself.
Says Frank: “This could take a huge weight off your shoulders knowing that there is someone authorised to assist you. Equally, many parents may wish to have the peace of mind that should their children run into difficulties they can formally assist them.”
He adds: “For that reason it is very important to choose your attorneys carefully and set out the scope of their authority and also the timescale during which they can use that power of attorney.”
Frank Cook can be contacted at Stones Solicitors LLP on 01392 666777, or at frankcook@stones-solicitors.co.uk. More information is available by logging on at www.stones-solicitors.co.uk.
