Parents, Dementia and Money

[kaz7]

As always seek legal advice and inform the bank to be alerted to lot of money about to go out , that will protect your dads money if they let large amounts going out without notifying you first

 

[Big Joe Corrigan]

power of attorney cannot be taken, it can only be given. Your dad has to give you the power to act on his behalf financially.
The paperwork can take a few weeks to get sorted.

it can only be given by a donor who has full mental capability. If dementia has been diagnosed you cannot be given it.

power of attorney ceases as soon as the donor dies.
Their affairs are then taken over by their executors, named in their will.

It might be worth talking to his bank. If you alert them to his vulnerability they may be able to put a marker on his account to stop unusual or large transactions happening.

After an attempt by some twat to hoodwink my elderly dad into taking money from a cash machine using his bankcard, the bank put a £10 daily limit on it.

 

[Blue Maverick]

power of attorney cannot be taken, it can only be given. Your dad has to give you the power to act on his behalf financially.
The paperwork can take a few weeks to get sorted.

it can only be given by a donor who has full mental capability. If dementia has been diagnosed you cannot be given it.

power of attorney ceases as soon as the donor dies.
Their affairs are then taken over by their executors, named in their will.

It might be worth talking to his bank. If you alert them to his vulnerability they may be able to put a marker on his account to stop unusual or large transactions happening.

Ye will be visiting the bank thanks. Told him he needs to sort this I don’t want him giving away my inheritance lol

 

[Blue Mist]

As others have said get Power of Attorney BUT, act quickly.
If it is decided he is not mentally capable you have to get a special POA, it costs a fortune and takes forever.
We used a solicitor who we had used a few times and as a result we got lucky. He realised my mother in law was ga ga but got her to sign the forms anyway. He laughed and simply said if he hadn't the costs would have been ridiculous.
We now have one set up for my mam for when she goes the same way.

 

[denislawsbackheel]

As others have said get Power of Attorney BUT, act quickly.
If it is decided he is not mentally capable you have to get a special POA, it costs a fortune and takes forever.
We used a solicitor who we had used a few times and as a result we got lucky. He realised my mother in law was ga ga but got her to sign the forms anyway. He laughed and simply said if he hadn't the costs would have been ridiculous.
We now have one set up for my mam for when she goes the same way.

You are right.
If Power of Attorney is not possible because of dementia you have to apply to the office of the guardian to be appointed a deputy.
It takes 6 months to a year to get, costs a fortune if a solicitor does it and your powers to manage their finances are much more restricted.

I am currently applying and it’s a nightmare.

 

[Blue Mist]

You are right.
If Power of Attorney is not possible because of dementia you have to apply to the office of the guardian to be appointed a deputy.
It takes 6 months to a year to get, costs a fortune if a solicitor does it and your powers to manage their finances are much more restricted.

Ta, I couldnt remember what the office was called. The solicitor saved us a fortune and it meant we could act almost straight away with banks etc.

P.s. dementia is a better word than ga ga !!!!! :-)

 

[Johnny Mars Bar]

Go and see a solicitor.

We had a similar situation with my nana and my mum took over her finances, made sure her bills were paid etc.

No idea what the process is but our family did exactly what you are describing.

My nana had dementia.

 

[Mr Fraser]

Go and see a solicitor.

We had a similar situation with my nana and my mum took over her finances, made sure her bills were paid etc.

No idea what the process is but our family did exactly what you are describing.

My nana had dementia.

You can usually do LPOA yourself with forms on the internet as long as the person has mental capacity and is willing to sign. I think k each type costs about £80 or so plus any extra witness Signature expenses for a doctor or similar. My mother was reluctant at first but finally agreed. She then had fluctuating capacity for a while and now has no capacity. If you wait too long then court of protection/deputyship is not an easy journey. I started that as mother had delirium

 

[Blue Maverick]

Just an update and my dad is really embarrassed about the whole thing however he created an LPOA in 2015 seems I’d forgotten that (irony) or he didn’t tell us. However all is good as it’s a big weight off my mind. Thanks for all the advice guys.

 

[denislawsbackheel]

That will be a great relief to you.