Power of Attorney and Care Home fees

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  • AskAsk
    AskAsk Posts: 2,446 Forumite
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    as others have said, i would keep everything separate as you may be questioned over the LPA for misuse if you put money in your name or joint names as it is not your money.  there may also be tax implications if you lump the money together and you will have HMRC on your back.
  • H657
    H657 Posts: 19 Forumite
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    Personally if your father has his own bank account. Pay the house sale into there (any savings accounts would be a better place & transfer funds to pay fee's)
    Then transfer DD for fee's to that account.
    I take it you have POA  registered with his bank?

    You need to look down the line, to what will happen when he passes & who is in the will. If other are going to benefit, they can look at where the money has gone.
    This is exactly what I did for my mum when she went into care. She had already made me a joint account holder on her current a/c & easy access saver which made it easier & I kept using these, but when I sold her house I opened another 3 savings accounts in her name under the POA I had to protect her money & get some interest for her.
    Kept everything financial very transparent & it did then make it easier for me when she died last year after 20 months in the care home.
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