Accounts of parents with Dementia

kenzie123

Hello
not sure this is the correct board for my question

My Dad is showing fast signs of dementia, or certainly some kind of brain degenerating issue.

He is forgetful, sometimes confused.

With this in mind I'm really worried about his bank account. He also still pays a mortgage - how do we as a family go about taking over power of his accounts if he becomes incapable of doing this himself?

Any guidance would be appreciated here, I think we need to act quickly.

Thanks

alanq

If he still has enough capacity he can create a Lasting Power of Attorney.

If not then it is a case of applying to the Court Of Protection for a deputyship.

http://www.moneysavingexpert.com/family/power-of-attorney

http://www.ageuk.org.uk/money-matters/legal-issues/powers-of-attorney/

https://www.alzheimers.org.uk/info/20032/legal_and_financial/130/lasting_power_of_attorney

polymaff

Take Alanq's advice.

Mojisola

IanManc wrote: »

If your Mum is still alive then one easy practical step is to make all their accounts joint - except for ISAs which can't be joint - so that your Mum can operate them.

They can also add you to the account as a signatory - you can manage the account but don't have any ownership over the capital.

alanq

Once someone has lost capacity only a registered LPA or deputyship are permitted NOT an approved signatory for a bank account. (Ordinary Power Of Attorney)
See http://www.ageuk.org.uk/money-matters/legal-issues/powers-of-attorney/

If someone still has capacity it advisable getting an LPA now. Once they have lost capacity it will be too late and obtaining a deputyship is more difficult and expensive.

Mojisola

kenzie123 wrote: »

My Dad is showing fast signs of dementia, or certainly some kind of brain degenerating issue.

He is forgetful, sometimes confused.

alanq wrote: »

Once someone has lost capacity only an LPA or deputyship are permitted NOT an approved signatory for a bank account.

If someone still has capacity it advisable getting an LPA now. Once they have lost capacity it will be too late and obtaining a deputyship is more difficult and expensive.

If someone has lost capacity, they can't appoint an attorney or a signatory.

If sounds as if Dad still has capacity at the moment, even if it's only for some periods of time.

polymaff

Which means follow alanq's original advice - asap.

I suggest that you explain to your Dad what LPA means - then ask him to explain it back to you 30 minutes later. If he can make a reasonably good job of that - and agrees to the LPA itself - then go ahead.

It can save an awful lot of heart-ache later on in what is, unfortunately, a progressive, degenerative condition. (and so a bit like life itself).

Steve_xx

Get LPA's in place for both Finance and Health. Preferably, do this before you seek medical advice regarding his suspected dementia onset.

Also, you should setup the LPA's yourself, without any solicitor assistance because involving solicitors will in the first instance cause delay and in the second instance will cost you more than is necessary.

xylophone

Can your father read and understand this

https://www.gov.uk/power-of-attorney/overview

maninthestreet

kenzie123 wrote: »

Hello
not sure this is the correct board for my question

My Dad is showing fast signs of dementia, or certainly some kind of brain degenerating issue.

He is forgetful, sometimes confused.

With this in mind I'm really worried about his bank account. He also still pays a mortgage - how do we as a family go about taking over power of his accounts if he becomes incapable of doing this himself?

Any guidance would be appreciated here, I think we need to act quickly.

Thanks

Has he actually been diagnosed with dementia??

[Deleted User]

There was a high court judge on the Today program this morning arguing that Power of Attorney is a really bad idea. In his experience 12.5% of all PoAs are abusive, and in 90% of those, the abuser is the family. Here at 1h52m.

And here.