Elderly Dad

Chipsmum_2

Hi


My dad is 82 next month. He lives in a council flat, has no outstanding bills, bank accounts or life insurance. He receives his pension through a PO Account.


He had a fall last year, is now mobile but unsteady on his feet and uses a walker so I have been getting his pension, shopping, paying his rent/CT etc and giving him the rest. I think it has taken the fall for him to start thinking about things.


He has asked if I could find out about opening a joint account with him. He has approx. £1k in savings in his home which he wants me to put away in case anything happens. When the time comes, and it obviously will, it will be used towards funeral expenses. Is it possible to do this?


I feel a bit out of my depth in this area and wondered if anyone could give me a bit of advice on this?


Thanks

TonyMMM

The "proper" way to do this would be to take out a power of attorney to allow you manage his affairs, but given the amounts involved ( and the legal costs) that might be a bit excessive in this case

You can open a joint account with him and do it that way certainly - the effect of that would be than when he does die the contents of the account pass automatically to you and do not form part of his estate. Occasionally that can cause problems if there are other family members expecting to inherit etc. or who think you have mismanaged the money.

As it sounds like the amount in the account is not going to even cover the costs of a funeral then I expect you will have no problems.

Chipsmum_2

Thank you.


I have two brothers who haven't seen or spoken to our dad since probably early 90s and live in Wales/England.


He has no will but when the time comes I do not expect to get anything from him as his goods will go to charity and any monies - which won't be a lot - will go towards his funeral and I myself will probably clear any outstanding funeral costs/rent/electricity.


I will go and see the bank I do all my banking with and speak to them about it.

RAS

Hi

It sounds like dad really does need to do a Power of Attorney regarding his care otherwise one of the brothers could turn up and argue about who makes decisions.

With respect to the bank account, short term it might be easier if dad arranged for you to be the second card holder? That way as long as he is mentally competent you can help manage his account.

But if he loses his mental capacity a POA would help a lot.

TonyMMM

Chipsmum wrote: »

I have two brothers who haven't seen or spoken to our dad since probably early 90s and live in Wales/England.

If he doesn't make a will then your two brothers would be legally entitled to an equal share of anything he leaves, and could cause problems for you - even if the estate is eventually worth nothing it could lead to unnecessary arguments and hassle.

I would be very careful to make sure everything is fully accounted for if you do decide on a joint account solution.

euronorris

His goods absolutely will not go to charity on his death if there is no will in place stipulating this. The law of intestacy will have to be followed.



If you then decided to donate the share of the goods you received, then that is your choice, but you wouldn't be able to just give all the goods to charity without a will stipulating this. And, if the relationship with your brothers is strained, then this could prove very tricky as others have pointed out.



An LPA and a will would be your best bet here. If Dad loses capacity, it's not just about money, it's about care. None of you would have any say unless you went to the time and expense to obtain a deputyship order which is much lengthier to obtain, and more expensive than an LPA.

jackyann

I agree. If you are OK with the paperwork, you can do the LPA yourself (gov.uk website and last year it cost £55).
I would also think that he should do a will. As it is straightforward, I would consider a DIY will in which he leaves everything to you, and makes you his executor. He should then write a "letter to executor" saying that he has not left anything to his other sons because of no contact.
That way, for a small cost, you are covered should one of them turn up.

It is good that he has you.

onlyroz

I also think the power of attorney route is the way to go - you'd be able to handle all the finances on his behalf, and you'd be able to make medical decisions if he loses capacity in the future.

Upsidedown_Bear

Some information here about Power of Attorney:
https://www.gov.uk/power-of-attorney/overview
http://www.ageuk.org.uk/money-matters/legal-issues/powers-of-attorney/power-of-attorney/

And here about who inherits if you die without a will:
https://www.gov.uk/inherits-someone-dies-without-will

pollypenny

My father simple,y made me a joint signatory on his account. I was able to manage his money, pay the residential home fees etc.

meer53

My MIL and i opened a joint bank account whilst she was still reasonably mentally fit. It was the best thing we did, she eventually went into a care home, i was able to pay all her bills etc without any complicated legal problems. My ex hadn't spoken to his Mum for 2 years before she died, his 2 sisters were in Australia, they agreed that a joint account was a good idea.

If i were the OP i would write to both brothers with this suggestion, asking if they have any objections, keeping a copy of the letters and proof of postage. The OP's Dad has asked about this, it's not being forced on him, if the brothers object, then they have the chance to discuss it with their Dad. The sums aren't really enough to cause huge problems. We didn't need a POA, my MIL had about £5k in savings which almost all went on her funeral. The OP is right to sort this out now before any problems arise.