Legal firm Moore Blatch have recently reported that they
believe Landlords who rely on property to fund their retirement should put a
property Lasting Power of Attorney in place before they reach retirement
age. Currently there are only 1 million
in place out of a possible 5 million.
By putting this document in place the Attorney can then make
decision regarding rental properties if the Landlord becomes physically unwell
or no longer has the mental capacity to make appropriate decision, even if an
agent is employed.
Moore Blatch also advise that this document is drawn up by a
Solicitor as it can be a complicated document and if not done correctly can
lead to issues at the time it is needed.
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