Elderly Dad

securityguy

I find it extraordinary all the messy solutions proposed when there is a simple solution: a power of attorney.

My parents had to get a court of protection order for my grandmother, because she became rapidly mentally incapable and, amongst other things, they had to manage her assets and a year or so later sell her house. Without a power of attorney this is difficult, expensive and extremely time-consuming: luckily my father had just retired, because (bearing in mind that he had been a senior member of university management and knew his way around paperwork) at some points he reckons it was virtually a full time job: he had to produce extensive accounts for the COP, for example.

Joint accounts should be, and in some cases are, frozen if one of the parties becomes incapable. Without a PoA you can't deal with property, you can't deal with investments, etc, etc. The forms are easy to fill out (getting a solicitor to do them is a luxury, not a necessity). And if by the time you need the powers of a PoA the prospective donor has lost capacity, that's it: you're off to the court of protection, which is extremely expensive and complex.

Chipsmum_2

Hi


Thanks for all your replies.


I talked to my friend about it last night as she has an elderly mum and she is going through something similar. She mentioned not a joint account but I think she said she was third party on the account so she could pay things etc. He only wants to open an account to save a small amount each week for funeral expenses, it isn't for paying bills or anything else.


My dad lives in a council flat, has no other savings other than the small amount what he has saved up at home, no shares, investments or any bank accounts, etc. The only bills he has would be rent, council tax and electricity. I know everything is up to date as he keeps a note of due dates and I pay them as I collect his pension for him. So all in all things are pretty easy in that respect.


His flat is furnished with all the basic things and nothing of value that I am aware of. I am pretty sure my brothers will not turn up asking for anything just as I am sure I will be requesting their share of any funeral expenses if that were the case.

jackyann

Sue is right that other members of the family need to be informed - but if you have no point of contact, then you simply write that.