MY MOTHER !!!!! [confused]

Lasting Powers of Attorney
These replaced the original Enduring Powers of Attorney which were phased put a few years ago, but are still valid, I think

It's easy to do it when you sort out wills and or need to update anything. I intend to enjoy the fruits of our labour s as long as I can and give away as much as I can but a POA sorted before it is needed is emotion free.

Recently arranged mine - got a job lot with the solicitor who dealt with J's estate. Strangely, I have just sorted out my 98 year old aunt's PoA. Hope I don't have to activate hers before I need mine activated - could get confusing

I did mine 10 years ago when dh died! Did it through a soliciter, as he was dealing with probate and I couldn't be arsed! I've checked and although the rules have changed, it's still valid!

It costs £130 for each POA, I thought it was a lot more than that, so I'm going to do it asap!
Before I totally lose it

Sorry - get help with the cost

You don't galen. I have done it myself as although I am only 64 and healthy, my DC both live at a distance and it occurred to me that they would have a nightmare sorting out my affairs should I suffer a stroke, as happened to one of my friends. You can download all the forms you need, and the very helpful guidance notes, but you do need to complete them all very carefully indeed. If you have the time and patience to do it, you can save a great deal of money. Furthermore, if your income is under £9000 per annum, you can help with the cost.

Galen In Scotland you have to do it through a solicitor as it goes to the Register (I think that's what it's called) in Edinburgh to be recorded. It's a legal requirement for POAs.

Didn't think you needed a lawyer to do poa?

Have I got that right? If I lost mental capacity, because funds are all joint DH would be able to access them. If he lost it, then the same would apply round the other way?

I guess if only one of us was left alive, and that person lost mental cap, then the kids wouldn't be able to get at the doolally person's funds to pay for care?

I'm not too bothered about the last situation. Not yet.

What a difference spending £500 now can make for the future.

We have poas in place for mum but not activated. That way we can activate more quickly if we need to. Having said that, I have a third party mandate on all mum'saccounts, her authority to speak to pension people and we've never had any problem with doctors speaking to us. It's just common sense, really!

The POA can be stored with a lawyer and not finally activated until it is needed - so the kids can't spend all your money on wine women and song while you starve in a garret.

The medical POA would let the medics follow your decisions if you were unconscious, in accordance with what you had set down.

We have experienced the hassle of getting POA for someone in hospital with Altzheimers, when their spouse who seemed perfectly healthy and likely to outlive them had a sudden fatal heart attack. It took a long time and a lot of red tape. Their wills left everything to each other, including the house, so that could not be advertised for sale until the red tape was untangled, and had to stand empty.

Anyway! I will leave it at all to "him-who-knows-wot-he's-doing"!

I'm never sure how worth it cash ISA's are. These days.

Investment ISA's are different.

Would the tax saved covered the £500 ish you would spend out on the POA between the two of you.

Surely not, j08. As you said yourself, once you take money out of an ISA you no longer get tax-free income from it. Much better to set up the POA!

Perhaps if you are really getting on a bit agewise, it would be better to take out ISA money and re-invest somewhere else jointly?

I have to confess, my son deals with all this for us. I sort of understand it.

I think, as a couple, all you need to consider is the ISA's, as these are the only monies not in joint names.

If one partner becomes incapacitated, then the other partner could still have access to all money and property in joint names.

It's a pity that the POA has become another money spinner for the legal profession. I think that puts a lot of people off, fearful of a largish bill.

Thanks Galen my thoughts exactly. Maybe some people don't care about causing their families more upset.

It then becomes much more difficult and complicated.

And cost them many thousands of pounds and a huge amount of time going to court which would be better spent with you.

Till then it's--mine all mine-- ours all ours!

Our financial affairs are already being handled very competently, thank you very much.

If we are ever declared completely out of our minds by at least two fully qualified medical professionals, then the kids can apply for Power of Attorney!