Complicated financial apects

valepark

New member
Jun 27, 2024
4
0
Hello, my Mum is 84 and diagnosed with dementia. A general overview is that thus far, she remains able to live on her own, in her own home with some support from family and is pretty well organised in looking after herself and the house - less good with eating and increasingly reluctant to go out, including memory cafes, but really enjoys it when she does. Generally now, my sibling (who is relatively local - I sadly am not) organises food shopping. She is fiercly independent and convinced that she doesn't need any help, in reality she is just able to cope with day to day finances, but won't remember if she has paid for something and is vulnerable in particular to marketing letters, telephone sales and potential scams. My sibling and I have LPA enacted - she has an independent financial advisor, recommended by a trusted family friend and aware of her condition.

Here's my question. Mum has recently received a letter from an independent financial advisor requesting a review meeting. As a result she has phoned them and made an appointment. She does not have the capacity for such a meeting or to make any decisions in relation to it - I would hope any reputable advisor would recognise this, but obviously this is a worry.

Any thoughts, advice welcome.

Thank you
 

sdmhred

Registered User
Jan 26, 2022
2,519
0
Surrey
Could you contact the financial advisor and just make them aware of the situation and the LPA? I would hope they would then cancel the meeting …but stranger things have happened.

The financial side of things drives me mad 🤯🤯🤯 keep going best you can!
 

Izzy

Volunteer Moderator
Aug 31, 2003
75,322
0
73
Dundee
Welcome to the forum @valepark.

Financial issues are such a worry. As you have LPA I also think it would be a good idea to contact the company and let them know your mum doesn’t have capacity to make decisions.
 

nitram

Registered User
Apr 6, 2011
30,701
0
Bury
You could explain to the advisor that your Mum has lost capacity to handle her finances and that you as LPA have taken over and would like a meeting.

The aim is get details of all her finances, which might otherwise be difficult, without committing to anything or paying a fee.
Go armed with ID and LPA or access code.
 

cymbid

Registered User
Jan 3, 2024
121
0
For the longest time mum only ever went shopping or to the bank to withdraw money when with me. She never shopped online. She then went into hospital and we expidited the pending POA . When i enacted the POA at mums bank , her cards were cancelled , new cards and chequebooks issued to me as Rep and all paperwork forwarded to me.
 

valepark

New member
Jun 27, 2024
4
0
Could you contact the financial advisor and just make them aware of the situation and the LPA? I would hope they would then cancel the meeting …but stranger things have happened.

The financial side of things drives me mad 🤯🤯🤯 keep going best you can!
Thank you - we were thinking that, so that's really helpful.
 

valepark

New member
Jun 27, 2024
4
0
You could explain to the advisor that your Mum has lost capacity to handle her finances and that you as LPA have taken over and would like a meeting.

The aim is get details of all her finances, which might otherwise be difficult, without committing to anything or paying a fee.
Go armed with ID and LPA or access code.
Thank you