Partner Julie Man has been featured in the Financial Times’ Your Questions column, responding to a reader who asks whether she can use her father's UK lasting power of attorney (LPA) to sell his house and access his savings in Spain, as he no longer has capacity.
Julie states that whilst the LPA enables her to manage her father’s financial affairs in England and Wales, it is not designed for overseas use. She continues that using a UK LPA to manage Spanish assets can be complex, as its recognition depends on Spanish legal requirements. Selling property would require approval from both a notary and the land registrar, often involving an affidavit of English law, certified translations and legalisation under The Apostille of the Hague. Accessing a Spanish bank account is even more uncertain, as each bank has its own policies, potentially requiring additional documentation and involving lengthy procedures.
If your father has no Spanish equivalent of a power of attorney, then trying to rely on the LPA to deal with the Spanish assets can be a grey area and difficult. It really depends on the Spanish requirements and whether they recognise your LPA. Solutions can be found but are often time consuming and expensive.
People are living increasingly international lives and it can be relatively simple to cross borders and buy property or have assets abroad. Unfortunately, when it comes to legal frameworks and handling mental capacity issues there is a lack of consistency between countries. This leaves vulnerable adults in an undesirable position.
The full article can be read online, by subscription only, on the Financial Times website.
Julie Man is in the private client team, advising on the full spectrum of private client matters, including cross-border issues for international clients. She also has a strong background in elderly client advice involving care home fee planning, lasting powers of attorney and court of protection applications.
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