Trust deed- capital gains tax ?

John_Pierpoint

Even if he can no longer hold a pen, he might be able to make his mark or have a solicitor/doctor in attendance to say he understood what we was doing.
(I've been round this loop too).
Legally speaking you can apply to the court (of protection?) but ££££££££££££££

Have you enduring/lasting power of attorney ?

nisadave

i have just been enquiring about the power of attorney and was told that it now takes about 6 weeks to complete and will cost about £600 and not sure if my "awkward" father would agree to this legal move even though i have been looking after his financial affairs for years.Not even sure that he would even sign the property transfer deed come to that.He wants to leave the carehome and go back home even though he is not physically able to do so .To quote the song "There may be trouble ahead)"

Dave

Johnhowell

Dave,

Whilst your father is mentally capable get him to sign a Lasting Power of Attorney to you, NOT a basic PoA. A basic PoA will be nullified once the donor becomes mentally incapable. This LPoA will not over come the issue about the house but will allow you to officially control your fathers finances to pay all bills due, etc. Also, get a Will written as the LPoA ends on death, when the Will takes over. Get these done now, before it is too late. Saves a lot of aggravation later on. I also suggest that the solicitor is not assign Attorney nor executor as they can claim their full expenses and can suck an estate dry.

With regards the Land Registry - buy the Title and check to see if you are recorded as having a Charge/Interest against the property.

Good luck
John

John_Pierpoint

In the early 2,000's, my mother went into hospital with a stroke; and then I bought a form from a legal stationer, on my way to the hospital and got it signed and witnessed there and then. I had power of attorney and the form to submit for enduring power of attorney; should I need it. (never did as I got authorised signatory on her bank accounts).

Some years later a similar thing happened to her brother (See the saga of Mr Dog on this forum) and I was faced with getting lasting power of attorney. I had to get a solicitor on the job. The forms are now the size of a couple of typical tax returns (one for finance and one for care) and require legal, medical, and family representative signatures plus agreement from the rest lf the family.
Well after organising that lot and paying 150 GBP per form (and 1,400 in solicitors charges) off went the forms and 6 weeks later the uncle in question died.
Months later the bureaucrats were still writing to him to say there was an error or omission on the form somewhere.

Well LPoA was a brand new system then and nobody knew what they were doing. I have a cousin for a compos mentis elderly relative, who filled in the forms and got the powers within 3 months;)
The initial charges appear to have been reduced:

A fee of £120 is charged for registration of each Lasting Power of Attorney application. For full details of fees, including how to pay, please visit our fees page. If your gross annual income is less than £16,500 you may qualify for a fee exemption or remission. For full details of these, please see our guidance booklet OPG506 - Fees, exemptions and remissions which forms part of the application packs below.

Be warned, you have to pay up front for something you may not need and it is all based on the fact that you may be a crook.

nisadave

Thanks John your last sentence says it all.I have looked after my fathers bank account online for years and i have his bank card and pin number so could probably carry on with this arrangement now he is in care. (he is happy for me to do so). I am the executor in his will so could i and should i carry on without the power of attorney ?

John_Pierpoint

All I can really say is that failing to get LPoA, worked in my favour. The local hospital gave up trying to bully me to pay for my uncle's care.

The rules say that the "medical" portion of the care in a nursing home is payable by the NHS, the care element is payable by the elderly person until their capital falls below a limit (Google to find the figures). There is also a get out for people with a terminal illness that allows the NHS to fund the final weeks of the "hospice" type care required.
My late uncle qualified for this.
The NHS put him in an expensive nursing home for a couple of weeks (could have cost getting on for 2K had he paid himself).

However, your father is likely to live at least 2 years in the care home, so you have to ask yourself if you will need to sort out anything for him (Shares? - Further changes in benefits? - Tax Return? etc. etc.) You can probably get away with a simple power of attorney, as many organisations don't know how the system works anyway and don't know & don't care how bad his mental condition might be.

The simple power of attorney is just a matter of getting a form and having father sign it in front of a witness.

What other blood relatives does your father have?

nisadave

Only relatives are myself and my brother and sister (who are happy for me to take care of things).They were offered the chance to jointly purchase the house in 2003 but declined.The only capital my dad has is about £5k in an ISA which i can access and he has no other investments.
Regarding the carehome costs,I have a meeting with the council today regarding the trust deed so i will post later on the outcome,

Nosht

nisadave wrote: »

Thanks John your last sentence says it all.I have looked after my fathers bank account online for years and i have his bank card and pin number so could probably carry on with this arrangement now he is in care. (he is happy for me to do so). I am the executor in his will so could i and should i carry on without the power of attorney ?

Beware, I did this for my aunt for many months but her bank confiscated her card & eventually wanted her to go there in person & sign for a new card.
She was bed-bound by then & incapable of signing anything so I had to pay all her expenses out of my own pocket & wait until after she died to be reimbursed.

Regards,

N.

nisadave

I have to wait now for up to 2 weeks for the council's descision on the trust deed !!!!!

John_Pierpoint

What does the Land Registry say?
(Local Councils do not have a good reputation for telling the truth - I should know the ombudsman has got me a total of 950 GBP for two incidents of mal-administration. A local surveyor friend of mine always sends his letters to (another) local council "recorded delivery".)

This is the sort of document to which you need access. It costs 4 GBP plus another 4 GBP if you want a copy of the site plan.

https://www.landregistry.gov.uk/www/wps/QDMPS-Portlet/resources/example_register.pdf

[Actually the registered owner is allowed to pop into his local friendly LR office and view a copy there and then]