Powers of Attorney - best way forward

[roxane]

Help and advice greatly appreciated.
I have become aware of the need of having to apply for Powers of Attorney from my husband. Money is very limited in the monthly in and outgoings so I wondered if anyone can offer me a step by step approach on how to go about it and at the same time not waste any money.
I keep avoiding the thought as I am unsure I really want it but now realise I have no choice, the next question could soon be weather it is too late as I see on FORUM it could take months.
Any suggestions welcome - any websites I have looked at offer forms for a fixed figure of money but there is more to it than that.....
Thank you
Lis

 

[BeckyJan]

Hello Roxanne and welcome to Talking Point.

It is possible to prepare your own POA but I personally think it is better to get a Solicitor to do this for you. It may be worth telephoning around to get an estimate of cost and some timing for preparation from them.

If one did it oneself you would need to pay £130 to Register the Powers - this is paid to the Office of Public Guardians.

In our case we had prepared the Powers much earlier in our lives along with Wills and when it came to registration I dealt with the OPG myself and that took 4 weeks from applying for Registration.

These two links may be helpful:
http://www.justice.gov.uk/global/forms/opg/lasting-power-of-attorney/index.htm

http://www.justice.gov.uk/global/forms/opg/lasting-power-of-attorney/index.htm#making

Others may come along shortly who have dealt with this more recently than me.

 

[jan.s]

I did it myself. The forms are not difficult, but you do need to take your time and read carefully the instructions. I made a mistake, so they sent back the part they wanted changed, I redid that part, returned it and they went on with the registration.
Good luck
Jan x

 

[nitram]

"...I wondered if anyone can offer me a step by step approach on how to go about it and at the same time not waste any money...."


This is a step by step guide to making a property and affairs LPA

http://www.justice.gov.uk/downloads/global/forms/opg/lpa-guidance-property-affairs.pdf

This link is included in the pack posted earlier but I thought you might like help seeing the wood for the trees.

There is a similar one for the health and welfare LPA

You may also be interested in the fees payable to the OPG and details of fee remission and exemption.

http://www.justice.gov.uk/downloads/global/forms/opg/lpa-120.pdf

 

[hollycat]

Just done one. We rang OPG, got LPA packup in post, read TWICE the guidance on completing, completed forms ourselves and took to consultant for final signature.

Cost £130 x 2 plus £150 for signature - total £410.

We found the attendance allowance forms far more difficult to complete, so I would have a look at the forms first yourself and see how you feel about doing them yourself.

 

[jan.s]

Just done one. We rang OPG, got LPA packup in post, read TWICE the guidance on completing, completed forms ourselves and took to consultant for final signature.Cost £130 x 2 plus £150 for signature - total £410.

We found the attendance allowance forms far more difficult to complete, so I would have a look at the forms first yourself and see how you feel about doing them yourself.

I got friends to sign who have known us for many years. Free of charge!!

Jan x

 

[nmintueo]

LPA120: EPA and LPA fee, exemption and remission guidance

If one did it oneself you would need to pay £130 to Register the Powers - this is paid to the Office of Public Guardians.

http://www.justice.gov.uk/global/forms/opg/lasting-power-of-attorney/index.htm

... subject to possible exemption according to your financial circumstances - ref that link, check: LPA120: EPA and LPA fee, exemption and remission guidance

You say, "Money is very limited in the monthly in and outgoings ...", so this may well apply to you.

"The Donor can get a remission or an exemption of application to register and repeat application to register fees based on their financial circumstances."

It lists qualifiying criteria, and adds:

Hardship
If the Donor does not qualify for remission or exemption but the payment of fees would cause undue hardship, for example make it difficult to meet normal living expenses, you can still apply to have fees waived by writing to the OPG with supporting statements and documents.

And, as always, refer to the factsheets here -

Enduring Power of Attorney and Lasting Powers of Attorney
http://www.alzheimers.org.uk/site/scripts/documents_info.php?documentID=154

 

[roxane]

... subject to possible exemption according to your financial circumstances - ref that link, check: LPA120: EPA and LPA fee, exemption and remission guidance

You say, "Money is very limited in the monthly in and outgoings ...", so this may well apply to you.



It lists qualifiying criteria, and adds:



And, as always, refer to the factsheets here -

Enduring Power of Attorney and Lasting Powers of Attorney
http://www.alzheimers.org.uk/site/scripts/documents_info.php?documentID=154

Thank you so much everyone - it amazes me how a FORUM like this can suddenly draw away the dark curtains and I see light again - thank you for your very knowledgeable support.

 

[carpe diem]

Hi, I also downloaded the forms and filled them in myself, it's easy when you get your head around them, download all the guidance forms too, they give good exapmles. My advice would be make sure you put a line through any boxes you leave blank and follow the exapmles given. Phone the OPG if you're unsure and get all the statements you need for remission fee early. It cost us £0.00 though I understand that is not quite possible now. I did both health and welfare and financial affairs. PM me if I can help or you have any other questions.
The OPG phone line is very friendly, answers fast, gives good advice and I probably phoned them about 6 times over a few weeks.
Good luck.

 

[kjaneh]

Poa

Hopefully someone can help my sister and I. my mother is 74 and is of sound mind. In 2006 she released money from her house and now owes back 25k !! She didnt tell us at the time. She wants to now sell her house and move back closer to me and repay the money. The house was part of my brothers estate and we said she could keep most of the money to buy a house and we would get our share of the estate why she passed away. She's buying a flat near me and we want to ensure that she doesnt take any more money from it. She has agreed to a POA, but does it cover us by not allowing the release of any money without your knowledge? or she does she need to be declared mental unfit before the POA can be inforced? We had thought of getting the house in our three names.

 

[jan.s]

I'm not sure, but I think the house/flat is put into the name of the attorney, eg Anne Smith, attorney for Brenda Smith. So the attorney doesn't own the property, but has the ability to make decisions in the best interests of the donor.

I may not be right on this. I'm sure the Office of the PG would put you right on this.

Jan

 

[nitram]

As I understand it your mother is of sound mind and owns a house, she wants to sell the house and buy another property nearer you.

You feel that both you and your sister have a financial interest in the house as you lent her some of the money to purchase it out of your late brother's estate, you don't mention any formal documentation of this loan. You both want to protect this interest.

Power of attorney is not relavant in this sale and purchase, she may wish to grant an LPA for possible future use.

She needs to instruct her solicitor that she wants the new property to be jointly owned by herself, you and your sister. The solicitor may well advise that you hold the property as tennants in common ie you each own a defined fraction outright as opposed to sharing the ownership.

She will in effect be giving away some of the proceeds of the sale of her house, this has tax and maybe future deprivation of assets implications. If you and/or your sister do not live in the house there can be further tax implications.

Although you would not be able to stop her using her share of the property to raise funds in practice she would find it difficult if not impossible, she would not have any access to your or your sister's shares.

What fractions the house is held in will depend on the terms of your brother's will and how all how all the assets were devided, your mother may have to own less than a third to account for the £25000.