Question about Power of Attorney

Discussion in 'I care for a person with dementia' started by josephinewilson, Sep 13, 2015.

  1. IanDB

    IanDB Registered User

    Sep 16, 2015
    13
    Southport
    Slightly off-topic as it doesn't apply to PO accounts (as far as I know), but banks do have a facility known as a Third Party Mandate, which is quick & easy to set up. Basically, the account holder signs a form authorising a named person (the "Third Party")to administer the account on their behalf, without removing their own control over the account. In practical terms it is very similar to having a joint account and it is a useful short-term solution while a full PoA is being processed.
    As I say, I understand that it doesn't really help the OP but I hope others may find the info useful.
     
  2. AnxiousBuzz

    AnxiousBuzz Registered User

    Sep 17, 2015
    1
    #22 AnxiousBuzz, Sep 17, 2015
    Last edited: Sep 17, 2015
    General Power of Attorney

    If you relative still has capacity, you can also act with a General Power of Attorney. This is a simple two page document - samples can be downloaded. I am not a lawyer, but I used this when a close relative became physically incapacitated and could not sign any documents. It doesn't need to be registered either, and banks and other organisations accept it. It meant that I could deal with urgent financial matters as an interim measure pending registration of the Lasting Power of Attorney. If your relative has lost capacity, you cannot use this approach.
     

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