Power of attorney

loulou41

Does anyboy know how much it will cost to set up a power of attorney to grant a parent's authority to withdraw money and sign documents when son is out of the country travelling? Thanks

Bossyboots

Absolutely nothing.

You can download the form from the department of constitutional affairs website, together with all the instructions.

benood

I think the law on this is changing soon so set one up sooner rather than later: http://www.thisismoney.co.uk/retirement/article.html?in_article_id=412556&in_page_id=6

prudryden

benood wrote:

I think the law on this is changing soon so set one up sooner rather than later: http://www.thisismoney.co.uk/retirement/article.html?in_article_id=412556&in_page_id=6

This is regards to an Enduring Power of Attorney and is a result of the recognition that Elderly Abuse is not as well constrained here as it is in other countries, especially the USA. Very interesting article and about time too.

I believe the OP is referring to a Limited Power of Attorney, which is a different animal. The OP should have the POA certified by a commissioner of oaths.

Bossyboots

prudryden wrote:

This is regards to an Enduring Power of Attorney and is a result of the recognition that Elderly Abuse is not as well constrained here as it is in other countries, especially the USA. Very interesting article and about time too.

I believe the OP is referring to a Limited Power of Attorney, which is a different animal. The OP should have the POA certified by a commissioner of oaths.

An enduring power of attorney is better and you can place restrictions in it on what the attorney can do. Should anything terrible happen and the donee becomes mentally incapacitated (as the result of an accident for example) the enduring POA can be registered and the parents continue to handle the finances There is no need to get it certified by a commissioner for oaths.

loulou41

It's a general power of attorney I am interested. Just heard from the conveyancer and she told me it will costs £75+ vat. Am I right to think, you can do this yourself? Thanks

loulou41

Bossyboots, do I understand I could fill the enduring power of attorney in the presence of witnesses and it will be legal, I do not need to register it or get a solicitor to do it for me, is it like writing your own will? Enduring power of attorney seems scary for me to do it, is there any other way I could deal with this without the power of attorney. I have checked the website and cannot find a form for general power of attorney. Thanks for all your help.

Bossyboots

loulou41 wrote:

Bossyboots, do I understand I could fill the enduring power of attorney in the presence of witnesses and it will be legal, I do not need to register it or get a solicitor to do it for me, is it like writing your own will? Enduring power of attorney seems scary for me to do it, is there any other way I could deal with this without the power of attorney. I have checked the website and cannot find a form for general power of attorney. Thanks for all your help.

That is correct and there is nothing scary about it. If you wanted to safeguard yourself later on, there is a very simple deed of revocation you can complete to give immediate notice that the POA no longer stands.

Have a look here http://www.guardianship.gov.uk/theservice/enduringpower.htm for all the instructions and the form.

I think this is the simplest way of doing it, other than sending letters to all of the financial institutions you use giving them notice that your parents can operate your accounts while you are away.

prudryden

I think you will find that most financial institutions will want it certified because of the Money Laudering Rules. I work for a large international financial investment company and, unless it has been certified, it would be considered a useless piece of paper. A lawyer may certify it. I initially said Commissioner of Oaths, but as Boss says it doesn't have to be a Commissioer, but if a Commissioner notarizes, it would be virtually guaranteed to be accepted.

DawnW

prudryden wrote:

This is regards to an Enduring Power of Attorney and is a result of the recognition that Elderly Abuse is not as well constrained here as it is in other countries, especially the USA. Very interesting article and about time too.

Elderly abuse aside (awful thought though this is), this can prove problematic for relatives whose loved ones refuse to give power of attorney till too late - I have had to go through the Court of Protection to get POA for my Mum, who has severe dementia, but was extremely independent minded prior to this misfortune. By the time we realised she needed this sort of help, it was too late - POA can only be granted by those 'of sound mind' and she went downhill very quickly, due, her GP said, to side effects of her diabetes - and being jolly awkward and independent, which she had always been, but of course this hadn't mattered before. She was obliged to go into a home for her own safety on medical and social services recommendation in November, because she lost all sense of time, was liable to wander off outside, and to injure herself in a kitchen or any situation where there might be potentially dangerous objects (therefore has to be supervised 24/7, and kept away contact with any sharp objects and hot surfaces). The Court of protection takes ages, and only this week am I able to pay all the bills, rent arrears etc that have been accruing. It has been an absolute nightmare, quite on top of the trauma of your mother being incapacitated in this way.

It has meant that I have been unable till now to pay her care bills, and bills accrued through her incapacity, such as losing keys to her flat so the locks had to be replaced by the housing association, and losing things like lifeline pendants that were put in place to help her. Fortunately most people have been understanding about this, but it has all been very stressful - though luckily in a sense, Mum is largely oblivious.

loulou41

Where do I find a Commissioner of Oaths? Can any solicitor certifies it, do they have to specialise in that field? Thanks