LPA query as result of BBC R4 investigation

Spivved1987

I am sure many people will have been listening - aghast - at the "The Willpower Detectives", by an investigative journalist on Radio 4.

One throwaway line in the final programme intrigued me. A senior legal person who'd been involved with the Court of Protection explained that the CoP didn't get involved with investigating spivs because Parliament had deliberately set up a 'Wild West' environment (I paraphrase) and I assumed that this was just of a piece with the 'cutting red tape to allow the market to do its job' approach which has made our society so much better......

However, he also said he wouldn't touch an LPA himself. Is this because he is sufficiently rich to arrange his affairs so it would never be an issue, or because anything defaulting to the Court of Protection (because no LPA is in place) would at least be handled professionally and in accordance with best practice, even though the cost would be high? It is the high cost of the Court of Protection which "LPAs R Us' etc use to press people into taking out Lasting Powers of Attorney.

One principle I try to bear in mind is - if I can afford it - 'look at what rich people do.' Especially in financial matters, tax planning etc I suppose my question is, other than cost, what are the cons of relying on the Court of Protection?

mebu60

Delay. And might not adhere to your wishes if you'd set them out in an LPA yourself. 

Keep_pedalling

I doubt whether it has to do with the amount of money he has and more likely that he had no one he trusts to be an attorney. 

RAS

I believe, based on an article (Guardian? Or BBC) that someone not qualified as a solicitor has been introduced by homes or social workers to people recently admitted although not necessarily permanently.

The donors were encouraged to make that person their attorney and the POA was registered immediately and the donor's property sold/disposed of within weeks, at prices that appear lower than those gained for other properties locally. That may be as a result of the speed of sale. 

The investigation found said person was attorney for some 30+ people, mainly in one county. One lady now has a new property near a relative but has had to replace all her personal possession disposed of whilst still in respite care.

Spivved1987

mebu60 said:

Delay. And might not adhere to your wishes if you'd set them out in an LPA yourself. 

What wishes would you have which could not be expressed in your Will? I don't think there is any likelihood that a rich person would die intestate.

mebu60

Spivved1987 said:

mebu60 said:

Delay. And might not adhere to your wishes if you'd set them out in an LPA yourself. 

What wishes would you have which could not be expressed in your Will? I don't think there is any likelihood that a rich person would die intestate.

An LPA would come into play while you are still alive if activated. What is in your will (if any) is irrelevant.

Being wealthy is no indicator that someone will have a will. 

Keep_pedalling

For most of us making a LPA is to avoid leaving our loved ones in a total mess should we lose mental capacity through illness or accident something s will is totally useless for.

Most of us are also fortunate to have trustworthy family to act as attorneys but it is more difficult for those who don’t.

Spivved1987

RAS said:

I believe, based on an article (Guardian? Or BBC) that someone not qualified as a solicitor has been introduced by homes or social workers to people recently admitted although not necessarily permanently.

The donors were encouraged to make that person their attorney and the POA was registered immediately and the donor's property sold/disposed of within weeks, at prices that appear lower than those gained for other properties locally. That may be as a result of the speed of sale. 

The investigation found said person was attorney for some 30+ people, mainly in one county. One lady now has a new property near a relative but has had to replace all her personal possession disposed of whilst still in respite care.

That's the programme I was talking about.

https://www.bbc.co.uk/programmes/p0k95rjn

Spivved1987

mebu60 said:

Spivved1987 said:

mebu60 said:

Delay. And might not adhere to your wishes if you'd set them out in an LPA yourself. 

What wishes would you have which could not be expressed in your Will? I don't think there is any likelihood that a rich person would die intestate.

An LPA would come into play while you are still alive if activated. What is in your will (if any) is irrelevant.

Being wealthy is no indicator that someone will have a will. 

Being wealthy is no indicator that someone will have a will.

Well, I suppose a recent lottery winner who is thick, or somebody whose money has been made by largely dealing in cash (ie iffy money), might not have made a will. The only other category of 'rich' person who might not make a will is an oldster who maybe bought their council house in London and doesn't realise how much it is worth. I find it hard to believe that you will be able to find anybody outside of those categories with serious wealth who hasn't made a will. The will is such an essential tool of making sure that money stays in the family!

p00hsticks

Spivved1987 said:

mebu60 said:

Spivved1987 said:

mebu60 said:

Delay. And might not adhere to your wishes if you'd set them out in an LPA yourself. 

What wishes would you have which could not be expressed in your Will? I don't think there is any likelihood that a rich person would die intestate.

An LPA would come into play while you are still alive if activated. What is in your will (if any) is irrelevant.

Being wealthy is no indicator that someone will have a will. 

 The will is such an essential tool of making sure that money stays in the family!

I'd suggest it's often the contrary reason - the intestacy rules will ensure the money stays in the family.
Surely a will is of most use when you want at least some of your estate to go outside the direct family ?

p00hsticks

Spivved1987 said:

mebu60 said:

Delay. And might not adhere to your wishes if you'd set them out in an LPA yourself. 

What wishes would you have which could not be expressed in your Will? I don't think there is any likelihood that a rich person would die intestate.

As others have said, the LPA is for when you are alive, but without capacity to manage your affairs yourself. Whether or not you have a will is irrelevant.  

For example - I have LPA for my mother - although she is mentally capable the fact that she is visually impaired, very hard of hearing and housebound means that it is much easier for me to manage her financial affairs such as paying utility bills for her, doing online shopping etc at her request and with her permission, and the LPA gives me the authority to do that.