power of attorney and savings

dilanroj

i have poa for my dad and want to change his savings as its on a very low percentage... anyone know how difficult this is? i want to change to icic, at present in lloyds...

oh, he has a few direct debit and SO s so i cant just withdraw the cash...

Robert_Sterling

Is it an enduring power of attorney if so has it been activated?

mary

6 years ago I had a POA for both parents and amalgamated the BS etc. accounts in order to get a better rate. Wasn't a problem. Just need to send in proof of document to the various establishments so they can "have sight" of it and put it on their files.

dilanroj

yes its enduring power of attorney, but no, not activated (for various reasons dont want to yet)

Chrismaths

Then it is not valid. It needs to be activated for you to have control over their affairs.

You need a full power of attorney to act on their behalf in this case.

margaretclare

If the POA is not activated can Dad do all this for himself?

Margaret Clare

sloughflint

Can someone tell me what activate means? As far as I know I have EPOA. How would I know if it's activated or not. I have copies of the documentation signed.

Chrismaths

You need to register it with the court of protection.

more details here

sloughflint

Chrismaths wrote:

You need to register it with the court of protection.

more details here

Ah, I only thought you had to do that once a person has reached a particular stage. In my parents case, they are just about ok-ish still.

jonesMUFCforever

A Power of Attorney gives you power to act on your father's behalf BUT your actions have to be seen as in his interest. Would the account with ICIC be in his name? If not they may disregard the POA until it has been registered.
You then have to provide accounts of your father's assets on a regular basis.
How much are ICIC offring compared with the best account that Lloyds can offer?