lasting power of attorney

System

I can't see much point in giving a LPOA to someone the same age. What happens if the second person becomes incapable too?

SuperHan

Clifford_Pope wrote: »

I can't see much point in giving a LPOA to someone the same age. What happens if the second person becomes incapable too?

My OH and I are going to get POA put in place for each other pretty soon, and we are about the same age. Our money is split between accounts in both our individual names, and if one of us got in to a car crash and was in a coma for any length of time, or something else particularly sudden, the other would be without 50% of our joint funds at the time we would need them most. (We are late 20s/early 30s).

If I was older and I was more concerned about old age/dementia, I may consider giving POA to someone else, but I would imagine in most cases it becomes clear that someone is likely to become incapacitated in the long term, and then the 'healthier' spouse could change who has their POA while retaining POA over the incapacitated partner.

Mojisola

Clifford_Pope wrote: »

I can't see much point in giving a LPOA to someone the same age. What happens if the second person becomes incapable too?

Our POAs name each other and a couple of our children as attorneys.

Keep_pedalling

Mojisola wrote: »

Our POAs name each other and a couple of our children as attorneys.

Same here, 3 attorneys should cover just about all circumstance

wooder

so...

my parents, both in their eighties, both still sound (dad still drives), if I did diy lpoa for both, health and financial would that be £110 x 4 = £440 ?

juju17

wooder wrote: »

so...

my parents, both in their eighties, both still sound (dad still drives), if I did diy lpoa for both, health and financial would that be £110 x 4 = £440 ?

yes correct. Are they receiving any benefits? I recently did all the paperwork for my parents, and because they receive 25% council tax reduction, they qualified for exemption from the fees!!...so did all four for zero cost....well £8 to send off the paperwork. Not bad considering the solicitor quoted in excess of £1000.