Power of attorney and money

Riknos

Hi all, my sister and I have power of attorney for health and finances for my dad. My dad has Parkinson's, dementia amongst other things and the hospital / doctors have now decided he is not fit to make decisions so we have invoked our powers.

We are currently looking to move him into extra care housing but will be putting him in a residential home in the short term as his risk of falls is very high (currently in hospital now recovering from hip surgery)

My sister and I are owed some money from him stretdhit back the last couple of years - we've paid for his dog walker and sitter that he was meant to pay back but forgot, he forgot to give us birthday presents etc so we wanted to get back the money we're owed but how do we do this without it looking dodgy like we're draining his money to avoid care costs?

Also we will need to sell his house to raise funds for his care - are we allowed to sell it substantially lower than market rate for a quick sale (the house is 6 hours away from us and in disrepair - we don't have the time to go up there to fix it up and we want a quick sale) or is this frowned upon as dodgy? We have a terminal mother we are both caring for and need the finances from the house to pay for his care so we're looking to hire a company to clear the furniture and sell it etc.

Thanks

Fosterdog

Riknos wrote: »

Hi all, my sister and I have power of attorney for health and finances for my dad. My dad has Parkinson's, dementia amongst other things and the hospital / doctors have now decided he is not fit to make decisions so we have invoked our powers.

We are currently looking to move him into extra care housing but will be putting him in a residential home in the short term as his risk of falls is very high (currently in hospital now recovering from hip surgery)

My sister and I are owed some money from him stretdhit back the last couple of years - we've paid for his dog walker and sitter that he was meant to pay back but forgot, he forgot to give us birthday presents etc so we wanted to get back the money we're owed but how do we do this without it looking dodgy like we're draining his money to avoid care costs?

Also we will need to sell his house to raise funds for his care - are we allowed to sell it substantially lower than market rate for a quick sale (the house is 6 hours away from us and in disrepair - we don't have the time to go up there to fix it up and we want a quick sale) or is this frowned upon as dodgy? We have a terminal mother we are both caring for and need the finances from the house to pay for his care so we're looking to hire a company to clear the furniture and sell it etc.

Thanks

You actually want to claim money needed for his care for birthday presents he forgot to buy you? Wow, he's so lucky to have you as children.

surveyqueenuk

Riknos wrote: »

My dad has Parkinson's, dementia
......he forgot to give us birthday presents etc so we wanted to get back the money we're owed

Good lord, you and your sister sound like filthy vultures.

Browntoa

As power of attorney any sudden movement of money to you would red flag

You have no record to prove what you are saying is true.

Market price should reflect the current state the property and estate agents will handle it all distance is not an issue

Personally I'd be looking to maximise his assets

elsien

You're really not owed money for birthday presents - it's a gift, not a right.
Do you have any proof of the other expenses you could show the Court of Protection if required?

As power of attorney you are obligated to act in his best interests at all times. Selling for substantially lower than market rate for what the house is now is not acting in his best interests. However you do not need to do it up to achieve full value compared to less delapidated houses in the area. Getting valuations and pricing it to sell at its market rate for the state it is in now would be fine.

badmemory

It sounds to me as if the POA should have been used much much earlier. However, you cannot use it to get back presents (or to divert to your mother's care). There are very strict rules. I would suggest a weekend visit with a skip. Then leave the rest to the estate agent or three of your choice. If he has savings then there is no need to go for a quick sale. Most care homes know that they may have to wait initially whilst you get access to a residents funds.

Mojisola

Riknos wrote: »

Also we will need to sell his house to raise funds for his care - we don't have the time to go up there to fix it up and we want a quick sale

Riknos wrote: »

he has hundreds of thousands sat in the bank that he is too tight fisted to use.

So he won't need the house sold immediately - take the pressure off yourselves - as long as you can get insurance cover for the house and keep it locked up securely, you won't have to sell in a hurry.

You can certainly pay for a company to clear it completely and then get an estate agent to sell it in the condition that it's in now.

Robisere

Did you have a promise from dad to get actual presents, after which he would give you the money? That, or something similar, is the only outcome I can think of, for trying to get the money for presents you may have bought yourselves.

If that is not the case, and you just want the money for stuff you want to buy yourselves, then the criticism is warranted, no matter how many names you call your critics. Can you not see that? If you have children and they may someday do the same to you, how would that be viewed?

I might add that I miss my own parents, even after many years, and would never have acted towards them in that way. I inherited a small sum, split between two of us, and would have been content with nothing but the happy and loving memories of them and my childhood.

troubleinparadise

When you post on here, no-one knows the background story.

Your Dad has dementia, and you have POA to act for him.

If your father owes you money for care given to him (dog walking) and you have receipts to prove it, repay yourselves. The OPG can check if asked to do so. Birthday presents? If He's well able to afford it, then go ahead if it matches what he's always given you. What do we know, other than what you are writing here.

As attorneys, you have to act in your father's best interests. That means, to maximise the amount of money you can achieve for your father's assets, house and contents. The end - not criticism nor sanctimonious s**t - that's the way it is.

No, we don't know what type of person your dad is, nor what you have done for him or what he owes you. How could we? That is the correct response, handle it how you want. Your mother probably needs the same financial treatment if she has a terminal illness.

It sounds a sad story all round. But don't lash out at responders on a public forum giving you guidance based on what you say - what they've said is correct. Just do right by your mum and dad.

Sea_Shell

@ BadMemory

On this theme....how then should you manage the finances of both parents if you are the attorney for both, but money is held by one (not joint), or unevenly held. e.g. one parent is in a care home, the other is being cared for at home, and needs money for things to help them or to replace household items. It may not be technically in the best interests of the one in care (with money) to pay for the others needs, (as it doesn't effect them directly), but surely they would if they could.

I know that in those circumstances that Dad would want Mum to be cared for as much as possible from the "Marital assets", but would the PoA allow such a thing.

badmemory

What I said was based on the fact that the Op is caring for the mother whilst the father is 6 hours away. I know one shouldn't assume but in this case I did assume that they were separated. If they are still together then what I said was incorrect & of course the mother would then normally own half the house.