Helping self-isolators to manage financial affairs during COVID-19

Self-isolating at home brings many challenges, not least how to manage typical everyday tasks such as visiting the bank, paying bills and withdrawing money.

With vulnerable members of the community on a 12-week lockdown and an increasing number of people having to self-isolate for 14 days, managing financial affairs has become a major concern for many. However, help is at hand with a little-known yet simple solution - an ordinary power of attorney (OPA).

Managing Partner at East Devon Law, Ian Hunt is highlighting the benefits of OPAs as they could save unnecessary worry for many of those self-isolating. He explained:

“An OPA is a temporary arrangement whereby you give someone you trust the authority to deal with your financial affairs while you are physically unable to do so yourself.

“It’s quick, simple and cost-effective to set up - and means you can still get access to cash or pay important bills while you’re stuck at home.”

An OPA is flexible and individuals can choose the level of power they want to grant. This could be giving authority to deal with all financial affairs or just one or two specific matters, such as managing a bank account or dealing with utility providers on their behalf.

Ian adds, “Unlike a lasting power of attorney, which people might be more familiar with, an OPA doesn’t need to be registered with the Office of the Public Guardian so is effective as soon as you sign it.”

“We’ve been able to get these set up for our clients on the same day as instruction. Importantly, you can cancel the OPA as soon as you no longer need it; it’s not a long-lasting measure which is complicated to undo.”

A power of attorney is an important legal document, so anyone wanting to set one up ought to speak to a lawyer to get the proper advice. However, with several legal firms still operating this shouldn’t be a problem.

The team at East Devon Law can explain the process by phone or video chat. When the documents are ready, they can arrange for them to be signed and witnessed either at a client’s home or East Devon Law’s business premises while fully complying with the government guidelines on social distancing.

For more information contact East Devon Law on 01404 515427 or email advice@eastdevonlaw.co.uk.