Power of Attorney

[supercity88]

Has he set up a trust, or just a standard will?

No trust, just a standard will.

 

[Eccles Blue]

I've got my two eldest as my POA but they have to inform the two younger ones (I have one in Canada) of any decisions they make for me.... not that they are as yet I am still (hopefully) fully compos mentis.
There is a section for this if I remember rightly. I did it a while ago.

 

[VOOMER]

No trust, just a standard will.

I would 100% get a trust set up as a matter of urgency. If the will was written by local solicitor check first, it maybe at trust has been setup. If not chose a solicitor, with a good long standing practice. Shouldn't cost more than £760, I'm sure a bluemooner will back me up when I say it makes sense, mainly to deal with any potential future care costs for you father.

 

[york away to this!]

Sounds like your sister's a right conniving cow.
She's pulled the wool over your dad's eyes and stitched you up like a kipper.
The only thing you can look forward to in this matter is her posting pictures on insta as she squanders your inheritance on cocktails and young escorts...

 

[ob]

Just a quick note of advice.
Your sister can only take on PoA for welfare if and when your dad is declared to not have capacity.
However she can run his finances at any time after he grants her PoA.

One further thing, read the notes with the forms very carefully.
They have to be signed by all parties and witnesses in a definite date order.
A mistake there will mean them being rejected when you try to register them.

That's why we got rejected and had to go with deputyship. Some issue with witness signature

 

[Tuearts right boot]

I think what's happened here is you feel your nose may have been pushed out of place and, in non medical terms, you've seen your arse....Dont look at it like that and just roll with it, it's what happens, it's happened to me twice and to be fair I cant remember much animosity at all. If you have POA it can be a minefield in some respects so you may well have dodged a bullet to be honest but at least offer your sister the moral support she may need when the time comes.

 

[denislawsbackheel]

When my mother in law started to show signs of dementia we asked her to set up power of attorney for her two daughters.
She refused point blank saying she knew they were trying to steal her money because she’d seen a TV programme about it.
“ Luckily” she died before it became a big problem.

 

[denislawsbackheel]

I would 100% get a trust set up as a matter of urgency. If the will was written by local solicitor check first, it maybe at trust has been setup. If not chose a solicitor, with a good long standing practice. Shouldn't cost more than £760, I'm sure a bluemooner will back me up when I say it makes sense, mainly to deal with any potential future care costs for you father.

I don’t back you up.
You can set up a trust but at the age the OP is talking about it’s just as likely a council would consider it deprivation of assets and leave them to pay care home costs anyway despite spanking hundreds of pounds on a solicitor.
Set up a trust in your 50s - fine.
Set one up at the time you set up PoA for a pensioner and I doubt you’ll get away with it.

 

[VOOMER]

I don’t back you up.
You can set up a trust but at the age the OP is talking about it’s just as likely a council would consider it deprivation of assets and leave them to pay care home costs anyway despite spanking hundreds of pounds on a solicitor.
Set up a trust in your 50s - fine.
Set one up at the time you set up PoA for a pensioner and I doubt you’ll get away with it.

Lifetime Living Trusts does, they even recommend its done when setting up a LPA. How old is his dad?

 

[Fiftyyearsandcounting]

My Dad has long talked about completing the forms to assign power of attorneys on medical and financial matters should the time come where he is unable to make those decisions.

His first call to me claimed he could only choose one, which I immediately said was incorrect.

He called the other day to say he had sent the forms to my sister who would send on to me for signing and that she was going to be sole power of attorney as "it was easier" that way and I would be a stand by.

I wasn't in the mood for an argument so left it.

The forms have since arrived and now I am fuming as it feels like an admission of favouritism or a question of my character.

Should I be as pissed off as I am? And was I right to sign it from Santa Claus and send it back to him?

Although I have a son, I gave POA to my daughter only. The main reason was that if you elect to give POA to two or more people then all decisions have to be agreed by all POA holders, otherwise no action is possible.

 

[VOOMER]

I don’t back you up.
You can set up a trust but at the age the OP is talking about it’s just as likely a council would consider it deprivation of assets and leave them to pay care home costs anyway despite spanking hundreds of pounds on a solicitor.
Set up a trust in your 50s - fine.
Set one up at the time you set up PoA for a pensioner and I doubt you’ll get away with it.

Isn't there a ten year rule as well?

 

[N1985]

I'd be more interested in spending time with your Dad as much as possible. Life is too short. Leave the pride and ego at the door pal and if she runs off into the sunset with the family kitty it'll bite her in the arse one way or another. Let it go mate and don't spend the rest of your Dad's life resenting him and her.

 

[denislawsbackheel]

Isn't there a ten year rule as well?

No.
There is no automatic statute of limitations for a council to consider deprivation of assets.
Though the longer the time scale the better the argument it wasn’t done for such.

 

[Mad Eyed Screamer]

My Dad has long talked about completing the forms to assign power of attorneys on medical and financial matters should the time come where he is unable to make those decisions.

His first call to me claimed he could only choose one, which I immediately said was incorrect.

He called the other day to say he had sent the forms to my sister who would send on to me for signing and that she was going to be sole power of attorney as "it was easier" that way and I would be a stand by.

I wasn't in the mood for an argument so left it.

The forms have since arrived and now I am fuming as it feels like an admission of favouritism or a question of my character.

Should I be as pissed off as I am? And was I right to sign it from Santa Claus and send it back to him?

Is there a will? As long as there is, all should be good?

 

[Brooklands Blue]

I would 100% get a trust set up as a matter of urgency. If the will was written by local solicitor check first, it maybe at trust has been setup. If not chose a solicitor, with a good long standing practice. Shouldn't cost more than £760, I'm sure a bluemooner will back me up when I say it makes sense, mainly to deal with any potential future care costs for you father.

The correct Trust would be a Family Asset Protection Trust. This doesn't guarantee a local authority cannot seek to claim care home costs but it generally provides a sufficient barrier that the authority doesn't bother. As for the £760 cost, we charge £3495.00 for such a Trust which is in line with our competitors. On a separate note I always encourage my clients to put in place their LPA'S as the cost of obtaining this retrospectively via the court of Protection is imposing.

 

[Brooklands Blue]

Isn't there a ten year rule as well?

You might be referring to IHT liability there bud.

 

[marco]

yes PoA should be joint so you can all see where any cash is going, my sister blew the lot once she got those bank cards, thousands in take away meals and resturants not forgeting the daily ATM withdrawls at £400 a pop for over a year, long story but if the OP is concerned drop me a PM

 

[supercity88]

yes PoA should be joint so you can all see where any cash is going, my sister blew the lot once she got those bank cards, thousands in take away meals and resturants not forgeting the daily ATM withdrawls at £400 a pop for over a year, long story but if the OP is concerned drop me a PM

Thanks mate. Not concerned by my sister, but maybe I should be. Money changes people and she is certainly more money motivated than me. But I think she will be okay. Trouble I'm in now is I genuinely signed it with a massive fuck off....when I am more calm and apathetic now! That's another issue I now need to sort!

 

[denislawsbackheel]

So there you have it from the horses mouth.
Spunk £3500 for no guarantee you are protecting anything!

 

[Blue Maverick]

The correct Trust would be a Family Asset Protection Trust. This doesn't guarantee a local authority cannot seek to claim care home costs but it generally provides a sufficient barrier that the authority doesn't bother. As for the £760 cost, we charge £3495.00 for such a Trust which is in line with our competitors. On a separate note I always encourage my clients to put in place their LPA'S as the cost of obtaining this retrospectively via the court of Protection is imposing.

Hi mate if I wanted to set up a trust in that if me or the wife dies then our half of goes into a trust for our daughter so she doesn’t lose everything should the other end up going into care what would that cost roughly?