Wealth planners have tentatively welcomed a new online tool set to be introduced around Lasting Power of Attorney (LPA) powers, but have warned the system could be ripe for abuse if not implemented properly.

Unveiled by the Office of Public Guardian (OPG), last Friday (17 July 2020) the new digital “Use a lasting power of attorney” tool will allow those acting as an attorney to contact organisations like banks and healthcare providers more easily and quickly.

Gordon Andrews, a financial planner at Quilter, said it was pleasing to see the government bring LPA “into the digital age”.

“Acting as an atto...