family issues with POA and finances!

[Grancan1313]

I am still having a lot of issues with my step mom and my dad he has Alzheimer’s
We both have POA I have some concens she may have moved my dad’s finances out of his name and possibly be giving money to her family to hide.
This is a complicated situation but all I want to make sure is of what money my dad has for his care when he needs it. She recently cancelled some respite because I believe she didn’t want tk o pay it.is there a way to ask for his finance situation can’t ask her she is not speaking with me or my sister.
Apart from reporting her is there an easier way ? Many thanks

 

[Beate]

Well if you are also an attorney you have every right to see his finances. Haven't you got internet banking for him or something? If not, take your POA to his bank.

 

[nitram]

If you have financial LPA you have duty to take full control of all of his finances if he has lost capacity.

If he has lost capacity immediately register your LPA with all relevant financial institutions specifying that only his chosen attorneys have any authority over the account(s).

Having done this you can backtrack on previous transactions although, depending on their size, you may find it's not worth the legal hassle of recovering any funds that may have been transferred.

 

[Grancan1313]

Well if you are also an attorney you have every right to see his finances. Haven't you got internet banking for him or something? If not, take your POA to his bank.

Hi I didn’t realise I could do this
Are the bank likely to tell my step mother I’ve been in? The one bank in the village I believe is where is ISAS should be. ?
Can I see their joint account where I think a lot of the Money could be going from?
Thanks for reply

 

[Grancan1313]

If you have financial LPA you have duty to take full control of all of his finances if he has lost capacity.

If he has lost capacity immediately register your LPA with all relevant financial institutions specifying that only his chosen attorneys have any authority over the account(s).

Having done this you can backtrack on previous transactions although, depending on their size, you may find it's not worth the legal hassle of recovering any funds that may have been transferred.

Ok that’s great

If you have financial LPA you have duty to take full control of all of his finances if he has lost capacity.

If he has lost capacity immediately register your LPA with all relevant financial institutions specifying that only his chosen attorneys have any authority over the account(s).

Having done this you can backtrack on previous transactions although, depending on their size, you may find it's not worth the legal hassle of recovering any funds that may have been transferred.

Hi thanks so much I will do this. The one account is joint and I believe she may have to give permission. For this?

 

[Beate]

You must register the POA with all her financial institutions. You can then take over his affairs just as your stepmother can. Is the POA set up jointly or jointly and separately? You should be able to see all his accounts including joint ones, but the trouble is that the money in there is also your stepmother's, and I believe she has a right to take money out, but she also has to act in your father's best interests and cannot profit from being an attorney. Usually banks don't go round blabbing to other people who's been in but if you are worried, tell them not to.

 

[nitram]

The one account is joint

All signatories on a joint account have full access to anything related to the account.
Before you jump and contact the bank take legal advice, maybe first approach your local CAB/AgeUK.
Beware that making two sole accounts may split the current balance fifty fifty.
I repeat, get legal advice.

 

[Grancan1313]

You must register the POA with all her financial institutions. You can then take over his affairs just as your stepmother can. Is the POA set up jointly or jointly and separately? You should be able to see all his accounts including joint ones, but the trouble is that the money in there is also your stepmother's, and I believe she has a right to take money out, but she also has to act in your father's best interests and cannot profit from being an attorney. Usually banks don't go round blabbing to other people who's been in but if you are worried, tell them not to.

Hi thank you . Yes we have POA to act jointly or separately. I’m aware that the joint account will show the living expenses and is half hers, just worried she may be hiding some as she told me before she fell out with me she planned on doing this !

 

[Lawson58]

This sounds more than a little complicated because you don't say what financial arrangements your dad and stepmom made when they got married. Do you know how much money she had beforehand? Do they own property together? So many questions that suggest that this is not just a straightforward matter of a POA.

Is it possible that she was intending to hide money so that they would get funding if your dad needed care?

Before you get further into this, I would like to suggest that you don't rush into anything without being sure of what you're about.

Just so you know where I am coming from, when my husband and I got married I had a lot more money than he did though my two stepsons wouldn't believe that for a moment. They are quite convinced that I am out to fleece them of their inheritance and I have no intention of informing them about our financial situation.

Without knowing all of the details I am a little mystified what you could report your stepmom for and as there is already animosity between her and you, I am concerned where your relationship with your dad is at this stage.