power of attorney x 2 ..finance..& welfare

Discussion in 'Welcome and how to use Dementia Talking Point' started by newbie2014, Jan 9, 2015.

  1. newbie2014

    newbie2014 Registered User

    Sep 26, 2014
    11
    HI ANY ONE WHO can help plz as new looking after older man with vas dementia dr said you must think about power of attorney quick ....... i am only person he wants as this person but i have qs i know the prices and who signs forms etc but i am not sure what happens if the patient dies as there is no savings or owned property who pays for the funeral costs am i responsible to pay from my monie i dont have any spare any way ? and who pays any debts ie loans over drafts that get payed back in small instalments as he should not have had the loans in the first place as been ill for few years with mem probs and can he get a reduced price as on low income for these form power of attorney i am after two the finanial /and welfair i know there is sites but find over whelming and understand direct answers from any one as dont understand i am a carer but do not get payed live in a tenancy shared home so many qs thanks
     
  2. Spamar

    Spamar Registered User

    Oct 5, 2013
    6,838
    Suffolk
    Hi
    To get POA online it costs £110each, less if he is receiving certain benefits. When he dies the POA is no longer valid and executor takes over. So no worries about settling his debts. However you have to keep records of financial
    Transactions to prove you have been dealing with the money in his best interests.
    Someone more knowledgeable than I sill be along and give you the links!
     
  3. Kevinl

    Kevinl Registered User

    Aug 24, 2013
    4,665
    Salford
    Don't panic, it's quite a lot of questions all in one go so to give a measured response will take a bit of time to put it all together, but in short (and in a general sense) your debts die with no one else "inherits" them, if you die broke there is a government payment you can claim for to pay the funeral expenses. I could ask why you would need POA, yes it gives you certain rights but with it come responsibilities too.
    K
     
  4. Jessbow

    Jessbow Registered User

    Does this man have family? Regardless of what he wants, personally i'd be asking them what they consider is appropriate.

    Much as you are not responsible for his debts or funeral costs - his estate would be- you could be in danger of losing your home in the event of his death/needing full time care, depending on who owns the property.

    Do you have a contract of employment or s it a casual arrangement?
     
  5. newbie2014

    newbie2014 Registered User

    Sep 26, 2014
    11
    reply

    any idea of costs POA X 2 if on all benfits that he is on full entitlment & just getting AA? AND DOES THIS MEAN YOU HAVE TO SHOW ANY RECIPTS FOR MONIE SPENT TO ANY ONE AT ANY TIME? HIS MONEY IS SPENT ON RENT BILLS AND TRANSPORT TO PLACES OF HIS INTEREST FOOD DAY CENTRERS SWIMMING SHOPPING WE ARE RURAL SO WISELY SPENT NONE LEFT OVER THANKS
     
  6. nitram

    nitram Registered User

    Apr 6, 2011
    18,296
    Male
    North Manchester
    You have quite a lot to think about, I think it would help if you went to either Citizens Advice Bureau or AgeUK to discuss everything and hopefully put your mind more at rest.

    As has been said any debts are paid by the person or out of his estate after death.
    The attorney, or after death the representative, do not have to pay any of the debts but they do have the duty and maybe the problem of handling the financial situation.
     
  7. nitram

    nitram Registered User

    Apr 6, 2011
    18,296
    Male
    North Manchester
    Registering each LPA basically costs £110 but this can be reduced or waived if the person has little capital and receives certain benefits, if you do visit the CAB or AgeUK they will be able to explain this.

    Making the LPA prior to registration can be free if you do it yourself or once again with help from CAB or AgeUK.
    If you use a solicitor there will be a charge.

    The attorney has a duty to administer the donor's finances in the donor's best interests and should keep a simple written record of all income and expenditure.
     
  8. Beate

    Beate Registered User

    May 21, 2014
    11,489
    Female
    London
  9. Katrine

    Katrine Registered User

    Jan 20, 2011
    2,852
    England
    If all his income comes from DWP and is State Pensions, Attendance Allowance and other benefits, you don't need financial POA to manage his money. You can apply to DWP to be an Appointee for his state benefits.

    Whether you need to have POA with regard to his debts depends on how they are being managed at present. If these are bank loans then you'd want to help him have a sensible repayment plan. Same goes for other loans and credit agreements. That might be sufficient, spreading the repayments over a long period at a low rate of interest. So long as they get paid something on a bad debt they are usually co-operative.

    Perhaps these debts are already at the stage where debt collectors have taken over? Debt collection agencies often buy up these loans cheaply, taking them over from financial institutions who no longer have in-house debt collection teams. In my experience with family members in debt, the debtor should negotiate a big reduction on the sum owed, or even get the loan written off for a single payment. If he doesn't have enough income to repay his debts then it may be possible to get them written off. The CAB can be helpful in drafting letters about this.

    If it was me I wouldn't step into the breach and get financial POA, but I would apply to be a DWP Appointee. You would just be managing his income to pay for his living expenses, and leaving the issue of his debts for the lenders to sort out. You could still write letters to them for information, but just as a friend, not as an Attorney.
     

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