This makes the OPA an ideal vehicle for families and friends to manage for instance the finances of an individual when they enter prison. Furthermore, the OPA can be tailored to deal with a specific area of your affairs such as financial or perhaps property.
It is common knowledge that banks for instance are notoriously ‘fickle’ about dealing with third parties, particularly family, but a well-drafted OPA will be a critical tool when your family are trying to sort out your finances. HMRC will also accept an OPA when dealing with them.
Interestingly though, GOV.UK does not provide a standard document to be used and therefore each OPA is individual.
The OPA does not need to be registered with the Office of the Public Guardian and can be used as soon as the donor signs it.
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