Power of Attorney

dzug1

jonesMUFCforever wrote: »

Doing it once when the person is alive - then having to do it again with Probate = twice the work and stress surely.

I thought the aim was to consolidate the accounts so that after death it only has to be done with a few of them?

If not - then yes.

monkeyspanner

Having dealt with both POA for day to day financial management and probate as an executor I would say it is probably easier to deal with banks as an executor than as a POA. Just remember to get several copies of the death certificate so you can deal with a number of banks simulateously as some take a while to return documents.

Mojisola

I haven't done it using a POA but I did help my parents sort things out which made dealing with Mum's estate much easier.

If an older relative is willing for you to help, you can consolidate their affairs by getting all the paperwork right and just having them sign where necessary. Any companies we needed to talk to we quite happy to get Mum or Dad's agreement and then discuss things with me.

Savvy_Sue

Mojisola wrote: »

If an older relative is willing for you to help, you can consolidate their affairs by getting all the paperwork right and just having them sign where necessary.

:rotfl: Never mind older relatives, I do it with DH as well! Just opened an ISA that way, for example: "sign here and here".

Mojisola wrote: »

Any companies we needed to talk to we quite happy to get Mum or Dad's agreement and then discuss things with me.

That's what I do with Mum, as she can't use the phone, we get agreement to talk to me and then I do it.

macman

OP, this assumes that your Mum is of a sound enough mind in order to sign a POA-and understand what she is signing. If she is already beyond that, you can't obtain a POA anyway.

agrinnall

macman wrote: »

OP, this assumes that your Mum is of a sound enough mind in order to sign a POA-and understand what she is signing. If she is already beyond that, you can't obtain a POA anyway.

Not strictly true, it's just that it's a lot more complicated as you have to apply through the Court of Protection.

OP, if you do want to apply for LPA, there's a lot of information here:

http://www.justice.gov.uk/forms/opg

macman

Indeed, but that is a much more drawn out and very much more expensive procedure.
The time to act on an LPA is before the individual becomes incapable.

malid

charlotte99 wrote: »

I see...thanks but how then do we get our hands on the lolly ?...not that I'm in a hurry !!

I have just come across this post and am somewhat disturbed by it.

The purpose of a POA is so that an attorney can look after health or financial affairs for a person who is no longer capable or making their own decisions. It is not for the purpose of allowing the attorney to get 'hands on the lolly'.

troubleinparadise

Dear Malid,

I think it was a tongue in cheek comment..... :eek:

at least, I hope for the OP's mother's sake it was!

Well, if nothing else, s/he was put right on the differences between POA and Executorship after the mate's muddled info.

pragmatista

Can anyone advise me what it should cost, approximately, to prepare and register a Lasting Power of Attorney?

Would it simply cost double the amount to do the same for a spouse?

Thanks.