Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • Riknos
    • By Riknos 14th Jul 17, 5:46 PM
    • 1Posts
    • 0Thanks
    Riknos
    Power of attorney and money
    • #1
    • 14th Jul 17, 5:46 PM
    Power of attorney and money 14th Jul 17 at 5:46 PM
    Hi all, my sister and I have power of attorney for health and finances for my dad. My dad has Parkinson's, dementia amongst other things and the hospital / doctors have now decided he is not fit to make decisions so we have invoked our powers.

    We are currently looking to move him into extra care housing but will be putting him in a residential home in the short term as his risk of falls is very high (currently in hospital now recovering from hip surgery)

    My sister and I are owed some money from him stretdhit back the last couple of years - we've paid for his dog walker and sitter that he was meant to pay back but forgot, he forgot to give us birthday presents etc so we wanted to get back the money we're owed but how do we do this without it looking dodgy like we're draining his money to avoid care costs?

    Also we will need to sell his house to raise funds for his care - are we allowed to sell it substantially lower than market rate for a quick sale (the house is 6 hours away from us and in disrepair - we don't have the time to go up there to fix it up and we want a quick sale) or is this frowned upon as dodgy? We have a terminal mother we are both caring for and need the finances from the house to pay for his care so we're looking to hire a company to clear the furniture and sell it etc.

    Thanks
Page 1
    • Fosterdog
    • By Fosterdog 14th Jul 17, 5:52 PM
    • 3,347 Posts
    • 5,725 Thanks
    Fosterdog
    • #2
    • 14th Jul 17, 5:52 PM
    • #2
    • 14th Jul 17, 5:52 PM
    Hi all, my sister and I have power of attorney for health and finances for my dad. My dad has Parkinson's, dementia amongst other things and the hospital / doctors have now decided he is not fit to make decisions so we have invoked our powers.

    We are currently looking to move him into extra care housing but will be putting him in a residential home in the short term as his risk of falls is very high (currently in hospital now recovering from hip surgery)

    My sister and I are owed some money from him stretdhit back the last couple of years - we've paid for his dog walker and sitter that he was meant to pay back but forgot, he forgot to give us birthday presents etc so we wanted to get back the money we're owed but how do we do this without it looking dodgy like we're draining his money to avoid care costs?

    Also we will need to sell his house to raise funds for his care - are we allowed to sell it substantially lower than market rate for a quick sale (the house is 6 hours away from us and in disrepair - we don't have the time to go up there to fix it up and we want a quick sale) or is this frowned upon as dodgy? We have a terminal mother we are both caring for and need the finances from the house to pay for his care so we're looking to hire a company to clear the furniture and sell it etc.

    Thanks
    Originally posted by Riknos
    You actually want to claim money needed for his care for birthday presents he forgot to buy you? Wow, he's so lucky to have you as children.
    • surveyqueenuk
    • By surveyqueenuk 14th Jul 17, 6:18 PM
    • 535 Posts
    • 1,866 Thanks
    surveyqueenuk
    • #3
    • 14th Jul 17, 6:18 PM
    • #3
    • 14th Jul 17, 6:18 PM
    My dad has Parkinson's, dementia
    ......he forgot to give us birthday presents etc so we wanted to get back the money we're owed
    Originally posted by Riknos
    Good lord, you and your sister sound like filthy vultures.
    • Browntoa
    • By Browntoa 14th Jul 17, 6:21 PM
    • 31,869 Posts
    • 37,579 Thanks
    Browntoa
    • #4
    • 14th Jul 17, 6:21 PM
    • #4
    • 14th Jul 17, 6:21 PM
    As power of attorney any sudden movement of money to you would red flag

    You have no record to prove what you are saying is true.

    Market price should reflect the current state the property and estate agents will handle it all distance is not an issue

    Personally I'd be looking to maximise his assets
    I'm the Board Guide of the Referrers ,Telephones, Pensions , Shop Don't drop ,over 50's and Discount Code boards which means I volunteer to help get your forum questions answered and keep the forum runnning smoothly .However, please remember, board guides don't read every post. If you spot an inappropriate or illegal post please report it to forumteam@moneysavingexpert.com Any views are mine and not the official line of MoneySavingExpert.
    • elsien
    • By elsien 14th Jul 17, 6:32 PM
    • 15,292 Posts
    • 38,384 Thanks
    elsien
    • #5
    • 14th Jul 17, 6:32 PM
    • #5
    • 14th Jul 17, 6:32 PM
    You're really not owed money for birthday presents - it's a gift, not a right.
    Do you have any proof of the other expenses you could show the Court of Protection if required?

    As power of attorney you are obligated to act in his best interests at all times. Selling for substantially lower than market rate for what the house is now is not acting in his best interests. However you do not need to do it up to achieve full value compared to less delapidated houses in the area. Getting valuations and pricing it to sell at its market rate for the state it is in now would be fine.
    Last edited by elsien; 14-07-2017 at 6:36 PM.
    All shall be well, and all shall be well, and all manner of things shall be well.

    Pedant alert - it's could have, not could of.
    • badmemory
    • By badmemory 14th Jul 17, 9:24 PM
    • 948 Posts
    • 980 Thanks
    badmemory
    • #6
    • 14th Jul 17, 9:24 PM
    • #6
    • 14th Jul 17, 9:24 PM
    It sounds to me as if the POA should have been used much much earlier. However, you cannot use it to get back presents (or to divert to your mother's care). There are very strict rules. I would suggest a weekend visit with a skip. Then leave the rest to the estate agent or three of your choice. If he has savings then there is no need to go for a quick sale. Most care homes know that they may have to wait initially whilst you get access to a residents funds.
    • Mojisola
    • By Mojisola 14th Jul 17, 9:39 PM
    • 28,521 Posts
    • 72,656 Thanks
    Mojisola
    • #7
    • 14th Jul 17, 9:39 PM
    • #7
    • 14th Jul 17, 9:39 PM
    Also we will need to sell his house to raise funds for his care - we don't have the time to go up there to fix it up and we want a quick sale
    Originally posted by Riknos
    he has hundreds of thousands sat in the bank that he is too tight fisted to use.
    Originally posted by Riknos
    So he won't need the house sold immediately - take the pressure off yourselves - as long as you can get insurance cover for the house and keep it locked up securely, you won't have to sell in a hurry.

    You can certainly pay for a company to clear it completely and then get an estate agent to sell it in the condition that it's in now.
    • Robisere
    • By Robisere 14th Jul 17, 10:17 PM
    • 1,844 Posts
    • 2,638 Thanks
    Robisere
    • #8
    • 14th Jul 17, 10:17 PM
    • #8
    • 14th Jul 17, 10:17 PM
    Did you have a promise from dad to get actual presents, after which he would give you the money? That, or something similar, is the only outcome I can think of, for trying to get the money for presents you may have bought yourselves.

    If that is not the case, and you just want the money for stuff you want to buy yourselves, then the criticism is warranted, no matter how many names you call your critics. Can you not see that? If you have children and they may someday do the same to you, how would that be viewed?

    I might add that I miss my own parents, even after many years, and would never have acted towards them in that way. I inherited a small sum, split between two of us, and would have been content with nothing but the happy and loving memories of them and my childhood.
    Last edited by MSE ForumTeam5; 15-07-2017 at 12:21 PM.
    There may be more than one way to skin a cat.
    But the result is always inedible.

    • troubleinparadise
    • By troubleinparadise 15th Jul 17, 12:56 AM
    • 980 Posts
    • 1,619 Thanks
    troubleinparadise
    • #9
    • 15th Jul 17, 12:56 AM
    • #9
    • 15th Jul 17, 12:56 AM
    When you post on here, no-one knows the background story.

    Your Dad has dementia, and you have POA to act for him.

    If your father owes you money for care given to him (dog walking) and you have receipts to prove it, repay yourselves. The OPG can check if asked to do so. Birthday presents? If He's well able to afford it, then go ahead if it matches what he's always given you. What do we know, other than what you are writing here.

    As attorneys, you have to act in your father's best interests. That means, to maximise the amount of money you can achieve for your father's assets, house and contents. The end - not criticism nor sanctimonious s**t - that's the way it is.

    No, we don't know what type of person your dad is, nor what you have done for him or what he owes you. How could we? That is the correct response, handle it how you want. Your mother probably needs the same financial treatment if she has a terminal illness.

    It sounds a sad story all round. But don't lash out at responders on a public forum giving you guidance based on what you say - what they've said is correct. Just do right by your mum and dad.
    • Sea Shell
    • By Sea Shell 15th Jul 17, 6:58 AM
    • 414 Posts
    • 397 Thanks
    Sea Shell
    @ BadMemory

    On this theme....how then should you manage the finances of both parents if you are the attorney for both, but money is held by one (not joint), or unevenly held. e.g. one parent is in a care home, the other is being cared for at home, and needs money for things to help them or to replace household items. It may not be technically in the best interests of the one in care (with money) to pay for the others needs, (as it doesn't effect them directly), but surely they would if they could.

    I know that in those circumstances that Dad would want Mum to be cared for as much as possible from the "Marital assets", but would the PoA allow such a thing.
    " That pound I saved yesterday, is a pound I don't have to earn tomorrow "
    • badmemory
    • By badmemory 15th Jul 17, 11:05 AM
    • 948 Posts
    • 980 Thanks
    badmemory
    What I said was based on the fact that the Op is caring for the mother whilst the father is 6 hours away. I know one shouldn't assume but in this case I did assume that they were separated. If they are still together then what I said was incorrect & of course the mother would then normally own half the house.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

155Posts Today

1,696Users online

Martin's Twitter