How can I get access to saving my Grandad has for me ?

Onawingandaprayer

SailorSam wrote: »

Aahh you can't have a go at him Martin just 'cos he has a bad memory. When i get asked my age i often have to say to myself 1953, and work it out in my head.
But that's old age for you.

Agreed. But I think I remembered my age when I was 19,20 and 21. Even though it was the 60s and I can't remember much else!

xylophone

Agreed. But I think I remembered my age when I was 19,20 and 21. Even though it was the 60s and I can't remember much else!

:eek:

Sex 'n drugs 'n rock' n roll? Cigarettes 'n whisky 'n wild, wild wimmin?:o

Ah, the dear, dead days beyond recall!

srcandas

badger09 wrote: »

Much easier for me, a 1950 baby :rotfl:

and I'm 1952 so I just ask the queen

srcandas

On the OP's type of post maybe we need a "I'm talking generally" icon. The focus always seems to be on the OP but many of these threads might be read by hundreds of people in a similar position looking for general advice. And much of the advice is very good :T

It is rare the OP supplies enough info so nearly all specific advice is guess work.

As for the age I can believe an 18 year old would say 19, especially if their birthday was close and if they wanted to avoid the judgemental wolves on here confusing the issue

Or it could be a tiipoo

andy.m_2

I haven't seen a roasting like that since Debbie was last in Dallas

TzarJay

Sorry about the delayed response. Thanks for most of the advice I've been given. Just going to ignore the bored keyboard warriors for now. I'm 21 in July by the way, 20 just now, but a small few on this forum seem to take young people as a joke and class us as lazy, binge drinking scroungers.

Looking over my options, and after talking to my grandad I think I'm going to have a talk with about power of attorney. My grandad's Alzheimer's is not that bad, and he still has the mental capacity to make his own choices. It's just really days and old memories he can find a bit difficult.

He is more than happy to give the money to me. I think getting power of attorney would be a good choice for both of us as my nana and grandad's financial affairs have gone to absolute pot since my grandad has been house bound, and my nana clearly can't cope with them. Which I'd be more than happy to help them with.

I know a little about PoA over finance's and property. Can anyone shed some more light on the process of getting one. I ordered the form from the gov. Website but other than that I'm unsure if I need a lawyer, how long it will take and what the "power's" I'd have with a PoA.

Thanks.

charlieboycat

You would need to be very wary of exercising the PoA to give money to yourself - whatever your grandfather might say. Even if gifts are not excluded by the LPA itself, it seems there are rules as to what can and can't be done - see eg. http://www.lindermyers.co.uk/gifts-and-powers-of-attorney-qa_755.html

xylophone

Would your mother/father not be prepared to deal with POA for your grandfather?


And what about your grandmother's views?

And have you taken on board the difference between an account held in trust and one that is merely designated?

If this account is merely designated, what are the deprivation of assets implications if he should need to go into care? And IHT implications?

TzarJay

xylophone wrote: »

Would your mother/father not be prepared to deal with POA for your grandfather?


And what about your grandmother's views?

And have you taken on board the difference between an account held in trust and one that is merely designated?

If this account is merely designated, what are the deprivation of assets implications if he should need to go into care? And IHT implications?

No not at all, they'd be terrible at it. They have no organisation when it comes to money. They are the type's that only have one current account and keep all their money in that, no saving's nothing, they have no money sense.

My nana thinks it's a good idea if I become his PoA, as, its terrible to say but she is the reason their finaces are to pot, she is the type that has money in a savings account, and forgets about it till she passes away.

I have my Grandad's blessing's to take the money, he says "its mine if i want it". Now, you'd think "why don't you just take him to the bank and let him get it for you". He is 88, over 16 stone, can't walk the distance of himself without help. I have a 3 door hatchback car, which he couldn't get in or out of. Then if I did get him to the Halifax, I doubt he could answer the questions they'd ask regarding why he's wanting to withdraw 13K out of an account that hasnt been touched in 12 years.

xylophone

I doubt he could answer the questions they'd ask regarding why he's wanting to withdraw 13K out of an account that hasnt been touched in 12 years.

Then is he in a fit state to grant POA? I think that your grandparents might be well advised to consult a solicitor/ your grandfather's doctor.

Has your grandfather already made a will? If he has not this might also need to be discussed with a solicitor although if he is judged to be "non compos mentis" then he cannot make a valid will.http://www.makeawill.co.uk/requirements-for-a-valid-will.htm

A solicitor's visit to the home could be organised in view of your grandfather's immobility?
http://www.housingcare.org/finance/handling-another-persons-finances.aspx