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Power Of Attorney Bonds

A pioneering Bond to safeguard those who make a Property & Financial Power of Attorney

This important bond, developed over many years, started with conversations surrounding the difficulties experienced when things had gone wrong.  New Deputies were picking up the pieces and there was no bond in place to help replace missing assets for Donors/Granters leaving them in severely compromised financial positions.  

At this point we particularly need to acknowledge the help and advice we received from Sam Hamilton of Mullis & Peake and Deborah Pascoe of Allied Services Trust.  Special thanks is also due to ex Public Guardian, Sandra McDonald, who helped us hone the bond adding to the cover for Attorneys acting too early.  Their time, patience and knowledge was very much appreciated.  A mention here too for the support received from Aviva.  This bond would certainly not exist without the help and support to realise the cover that was needed.  The support received from other professionals, willingly giving up their time and knowledge, is also much appreciated and we wish we could name everyone individually that contributed with help and advice.

We are pleased to say that this long-awaited Bond, available in England, Wales and Scotland, can now work alongside the PoA and give that peace of mind to Donors/Granters and their families but also to the Attorneys.

Why Purchase a Bond?

Firstly, we would like to share a comment from Michael Culver, Chair of Solicitors for the Elderly who says:-

"In my view, it should be compulsory that, in order for someone to act as an attorney for property and affairs, an insurance bond is in place to protect against wrongdoing and mistakes. Sadly, legislative change in this area is unlikely anytime soon and, in the meantime, I strongly encourage anyone considering taking out a Lasting Power of Attorney or anyone appointed as an attorney to take out such a bond."  

Compelling words with a clear meaning regarding the importance of protection.

For Professionals, the bond can protect the firm when they want to help families by working alongside a Lay Attorney.  There is the benefit of a professional dealing with the complicated matters with the Lay Attorney able to deal with the day to day activities.

The bond can give the Donor/Granter, Attorneys and other family members the peace of mind that financial assets are protected.

The bond also offers a level of protection for Lay Attorneys for an honest mistake.  The job of an Attorney can be a difficult one and mistakes can and do happen.  The bond will protect the Attorneys against financial loss from an honest mistake when they are dealing with their loved one's affairs.

Premiums start from just £20 for the lifetime of an unchanged LPA/PoA.  If the bond is needed for, say, 10 years, that's only £2 a year!

Other highlights of a Bond include:

  1. Premiums are one single payment
  2. The Donor/Granter can choose the amount of cover to suit their needs (which can also be amended at any time)
  3. The bond will also cover theft, misappropriation and fraud as standard when the worst does happen
  4. Quick claims process when a loss has been identified and accepted
  5. Simple online application

A little like travel insurance, you hope you will never need it but you will be very glad you have something in place if anything does happen.


  • Why should I take out a Bond?

    As we have said, mistakes can and do happen.  Even Attorneys with the person's very best interests at heart can make a mistake, meaning the financial situation of the Donor/Granter could be compromised. The Bond will give peace of mind knowing that financial assets will be protected. 

    If the worst does happen, and an Attorney uses assets for their own benefit, the bond will be there meaning that the care taken to protect the whole family and also leave them the gifts and inheritance the Donor/Granter would like them to have when they have gone will be safeguarded.

    For Professionals, the bond can protect the firm when working with Lay Attorneys and also allow a degree of financial flexibility knowing a bond is in force.  Professional Indemnity insurers will also have comfort knowing it is a policy of the business to have a bond in place protecting the firm.

    Of course the amount of the bond should be considered to make sure it is giving the cover needed.

  • When should a Bond be purchased?

    Only when there is a risk – that would be when the Power of Attorney is being or has been registered and an EPA can be legally used.

Apply for your Power Of Attorney Bond online today

The bond can be purchased via our online application system.  The application will only take a few minutes with confirmation document sent by email.  

Each Attorney will receive an email with a link so that they can look at the bond and sign if they are happy.

Once all Attorneys have used the link, a payment invoice will then be sent and the bond is considered in force when the premium has been paid.

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t. (0800) 772 0886

Security Bonds Limited, Tower House, Parkstone Road, Poole, Dorset BH15 2JH

Security Bonds Limited is Registered in England No. 11616784 is authorised and regulated by the Financial Conduct Authority under Firm Reference No. 843895