What age should we make a poa

Fishingtime

You should do it now seeing as you are thinking about it.
It is the same a doing a will, people say I/we are too young for these things.
But you never know when your time is up

74jax

Mojisola wrote: »

I think that we make wills and set up POAs not for ourselves but to make life easier for our loved ones. If they are ever needed, it's likely that our families will be going through a stressful time. Why make life more difficult for them?

Excellent post and exactly why I've had a will since 18. I'm not sure why he doesn't want to, but am happier I have mine in place and poa will be sorted soon. Thanks.

valk_scot

mummyroysof3 wrote: »

I still don't understand how it would stop them giving money away or force them into care if they saying no though just cos they wrote itndown years before

To take control of a person's affairs against their will through POA the person has to be shown to be incapable of managing their own affairs. Of course if the person is willing to allow a relative to manage their affairs the POA can be activated while the person is still competant, many older folk allow a daughter or son to manage their affairs for them this way. If the person is past the point of giving informed consent for this though, it helps the whole process if it can be shown that they were previously willing for it to happen, as they've already signed off the first part of the paperwork. Than all the relative has to do is to show that the person is no longer capable of managing their own affairs (a doctor has to decide this independantly, usually) and
the POA will be activated. If there's no paperwork in place though it gets a whole lot more complicated to declare a person unfit to manage their own affairs, and more expensive. Prior POA paperwork is a really good thing to have availible for elderly people, if they're willing. And it doesn't mean their money can be snatched away while they're still competant, no.

I suppose in the case of younger spouses though, what happens if they split up acrimoneously? The POA would have to be retracted and I'm not sure how easy that would be.

mummyroysof3

valk_scot wrote: »

To take control of a person's affairs against their will through POA the person has to be shown to be incapable of managing their own affairs. Of course if the person is willing to allow a relative to manage their affairs the POA can be activated while the person is still competant, many older folk allow a daughter or son to manage their affairs for them this way. If the person is past the point of giving informed consent for this though, it helps the whole process if it can be shown that they were previously willing for it to happen, as they've already signed off the first part of the paperwork. Than all the relative has to do is to show that the person is no longer capable of managing their own affairs (a doctor has to decide this independantly, usually) and
the POA will be activated. If there's no paperwork in place though it gets a whole lot more complicated to declare a person unfit to manage their own affairs, and more expensive. Prior POA paperwork is a really good thing to have availible for elderly people, if they're willing. And it doesn't mean their money can be snatched away while they're still competant, no.

I suppose in the case of younger spouses though, what happens if they split up acrimoneously? The POA would have to be retracted and I'm not sure how easy that would be.

Shown to who though? It does seem better to get it done in advance cos as was mentioned earlier it can take a while to sort and they could have given all the money away by then. I still don't understand how you can physically make someone go into care though.... Surely you can't drag them out the house while they screaming they don't want to go

mummyroysof3

I have no will as everything goes to my husband anyway. If we both died together then the grandparents would fight over the kids even if we had a will naming one lot so seems pointless.

Slinky

We arranged POAs when we sorted out wills a couple of years ago. We're in our 40s.

Brighton_belle

mummyroysof3 wrote: »

I have no will as everything goes to my husband anyway. If we both died together then the grandparents would fight over the kids even if we had a will naming one lot so seems pointless.

But dying intestate makes everything take longer to sort out. And are you sure it would all go to your husband? I believe this isn't absolutely so: do check this out and don't assume.
Also, if there are one set of grandparents you would much prefer to have the children, putting it in a will, will, I would have thought, make it easier for them to do what is best for your children during a difficult and horrendous time especially if going to court proves necessary to stop the fighting.

Also, you need a will to protect your children's financial future if you do both die and to help those looking after them care for them. Otherwise, half your money might go to relatives not caring for your children

LannieDuck

Interesting, I hadn't thought about this. Me and OH have reciprocal wills and joint back accounts etc, but maybe we should consider POAs too. Thanks for raising it.

Ettenna

My daughter was in a car crash. I cannot access any of her bank accounts, I have had trouble dealing with her car insurance, with her mobile phone, etc. I am an appointee for benefits but I cannot do anything more without going to the court of protection. I don't know if I need to do tht or even want to do that yet.

I have suggested to the other children that they should do wills, power of attorney and appoint guardians for the children, etc.

pawsies

I swear I keep skimming past this thread and read 'What age should we make a poo'