Grandparent paying for education

Undervalued

helpingmymum wrote: »

Not yet, I’m on with that. Planning on doing them both myself rather than paying the c£800 solicitor fee per POA. Discuss...😀

What’s the tie-in to school fees?

It is only cheap if you manage to do it properly! The real problem is you won't know if you have until it is too late.

badmemory

DIY POA are relatively easy, provided the donor does not place a lot of restrictions. It tends to be those restrictions that can cause problems, but doing it online now means they are checked for normal errors & registered straight away. This means that they are ready to go whenever the donor or attorney feels it is necessary.


I have my POAs in a box (which my attorney knows about) which has a label which says what to do if I no longer can. It also has a copy of my will with instructions on how to get the original & lists of where my money is. So it doesn't matter if I can't because I am too ill or dead. Either situation is stressful for family members & the idea is to make it as easy for them as possible.

Malthusian

Undervalued wrote: »

It is only cheap if you manage to do it properly! The real problem is you won't know if you have until it is too late.

As Badmemory says you generally do know. Register the POA immediately and if it's invalid the Court of Protection will reject it, and you can do it again.

POAs are straightforward to DIY, unlike Wills. Choose people you trust, sign it in the right order, don't include silly restrictions, make sure you tick the "joint and several" box, register it as soon as it's completed, and there's relatively few things that can go wrong.

helpingmymum wrote:

What’s the tie-in to school fees?

If she's thinking about Inheritance Tax planning and/or care costs then she should have LPoAs in place. As should any adult, including you, but it's even more important for anyone considering those issues.