Can I withdraw money if I have a Power of Attorney?

An LPA grants the Attorney(s) the power to make decisions for you. The LPA for property and financial affairs allows your Attorney to access all of your UK assets in order to manage these on your behalf. Depending on how the LPA is drafted, the scope of the Attorney’s authority can be restricted.

In addition, depending on how the LPA for financial affairs is created, it can be used by the Attorney before you have lost capacity to make financial decisions (although they should only act with your consent.) as well as once you have lost mental capacity.

An LPA for health and welfare allows your Attorney to step into your shoes to make decisions for you about your medical treatment, where you should live (including whether you should move into residential care), and they can restrict who has contact with you.