1. Expert Q&A: Protecting a person with dementia from financial abuse - Weds 26 June, 3:30-4:30 pm

    Financial abuse can have serious consequences for a person with dementia. Find out how to protect a person with dementia from financial abuse.

    Sam, our Knowledge Officer (Legal and Welfare Rights) is our expert on this topic. She will be here to answer your questions on Wednesday 26 June between 3:30 - 4:30 pm.

    You can either post questions >here< or email them to us at talkingpoint@alzheimers.org.uk and we'll answer as many as we can on the day.

Money Box Live Septermber 17 at 3.02

Discussion in 'Legal and financial issues' started by jenniferpa, Sep 17, 2007.

  1. jenniferpa

    jenniferpa Volunteer Moderator

    Jun 27, 2006
    39,419
    #1 jenniferpa, Sep 17, 2007
    Last edited: Sep 17, 2007
    Money Box Live September 17 at 3.02

    Thanks to Turbo for pointing out the Money Box Live will be covering the thorny issue of Power of Attorney today. If you miss it, it should (allthough the BBC have been having intermittent problems with their Listen Again options) be available online.

    http://news.bbc.co.uk/1/hi/programmes/moneybox/6991691.stm

    (sigh) And I suppose I should have pointed out that this is on Radio 4 :D
     
  2. steviel

    steviel Registered User

    Sep 17, 2007
    22
    Epa

    As I am new to this site I am finding my way around it and reading you guys talking about EPA I feel this is something I need to do for my father whilst he is able to understand. I think this will make life easier when talking to his bank etc, who are unable to deal with me otherwise and as he loses his cash point card sometimes it is difficult to sort matters out. Would EPA work for me?
     
  3. CraigC

    CraigC Registered User

    Mar 21, 2003
    6,630
    London
    thanks jennifer and turbo for the heads up on the broadcast.

    I notice that money box has a 'podcast' subscription which will make it easier for anyone stuck at work while it is broadcast.

    The new LPA issue affects a lot of us. Recently a solicitor told me that she is recommending that all her clients set up and EPA before the new LPA comes into force. This programme may clarify a few things.

    Kind Regards
    Craig
     
  4. jenniferpa

    jenniferpa Volunteer Moderator

    Jun 27, 2006
    39,419
    #4 jenniferpa, Sep 17, 2007
    Last edited: Sep 17, 2007
    Hi Stevie (again)

    I don't think that anyone would disagree that having an EPA (enduring power of attorney) or the new LPA (Lasting Power of Attorney) in place is vitally important if you have a relative with dementia. As you say most people will not deal with you if you don't have one. Some banks will allow you to set up 3rd party access (with the account holders permission) but many other institutions (phone etc) will refuse point blank to deal with anyone other than the account holder unless there is an EPA (or soon to be LPA)

    This is the fact sheet from the AS about this issue http://www.alzheimers.org.uk/After_diagnosis/Sorting_out_your_money/info_epa.htm
     
  5. Nebiroth

    Nebiroth Registered User

    Aug 20, 2006
    3,518
    Yes; you need to be able to create the EPA whilst your father is able to understand what he is doing by creating it. This is called being "competent". If you are already "not competent" you cannot create an EPA.

    When (or if) the person (called the donor) becomes unable to manage their financial affairs, the person who will do so on their behalf (called the attorney) registers the Power of Attorney with the Court of Protection.

    They are then able to act on the donor's behalf in most financial situations such as dealing with matters at the bank. You would have powers to operate the account just as your father would. Banks do, of course, require that you provide documentary evidence, that is usually the EPA document which will be stamped with the date of registration and the seal of the Court.

    The legislation is changing and EPA's will become LPA's - Lasting Power of Attorney is more powerful but more complicated. However, EPA's created before the changeover date will remain valid even if they have not yet been registred, and can still be registred when appropriate.

    The site of the Public Guardianship Office has a page that tells you everything about EPA's and it is here

    http://www.guardianship.gov.uk/theservice/enduringpower.htm

    Most people create EPA's as a sort of insurance policy, against a time when they may be needed.

    It is better to have it and never need it than to need it and not have it.
     
  6. steviel

    steviel Registered User

    Sep 17, 2007
    22
    Epa,lpa's

    Dear Nebiroth
    Thanks alot for the info regarding EPAs and LPA's I will act soon and get the situation sorted.
    many thanks
    steviel
     
  7. sue38

    sue38 Registered User

    Mar 6, 2007
    10,856
    Wigan, Lancs
    It is worth doing an EPA as even if you decide come 1st October you would prefer an LPA, as provided you still have mental capacity, you can revoke the EPA and make a new LPA.

    Be aware time is running out to do an EPA, the deadline being the 30th September (now less than 2 weeks away).

    I heard the end of a discussion on Radio 5 yesterday morning and one of the guests made the point that LPA's have to be registered with the Public Guardianship Office (PGO) before they can be used at all, even if the donor has no mental incapacity, whereas EPA's are can only be registered when the person has become or is becoming mentally incapable. Thus with an EPA the PGO are alerted that the donor has become vulnerable and will check that the EPA is being used in their best interests. There will be no such checks when an LPA is registered.

    I have not had a chance to check whether this is right or not.
     
  8. Helena

    Helena Registered User

    May 24, 2006
    715
    Its vital everyone does an EPA before the deadline of 1st October

    You can ALSO do an LPA too and they can both be valid

    an EPA is easy to administer an LPA will be much more complicated and expensive
     
  9. mocha

    mocha Registered User

    Feb 17, 2006
    176
    Lancs, England
    EPA's

    I also read that the new LPA will be more expensive around £900 I heard but if an EPA is made out before 30th Sept. it will be OK and doesn't need to be registered until needed.
    I printed three copies of the paperwork from the Guardianship web site but would like to know if they will accept the date on them as gospel. Are they going to stop issuing the EPA forms from that date and do you think it is safe to do a DIY form for yourself. I already have EPA for my husband.

    :confused: Aileen
     
  10. jenniferpa

    jenniferpa Volunteer Moderator

    Jun 27, 2006
    39,419
    Mocha: do you mean an EPA for you? Of course when you fill these in you have to get them witnessed and dated so probably best to get it done ASAP.
     
  11. Norman

    Norman Registered User

    Oct 9, 2003
    4,348
    Birmingham Hades
    Hi Mocha
    quite right the LPA will be much more expensive,so take out an EPA now..
    Norman
     
  12. jenniferpa

    jenniferpa Volunteer Moderator

    Jun 27, 2006
    39,419

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