lasting power of attorney

[baldy1926]

HI does anyone know anything about these.They seem expensive to get done.I've seen a pack in wh smith is it basicly the same.Would it be a pain to fill in?
I need to do something as my mother is gettng on a bit and i dont want her going not having anything in place.
Also would it be a good idea getting the house signed over to me?
Any semi sensible help would be good
thanks

[ianash]

I think this called an enduring power of attorney.

[Simpo Two]

baldy1926 said:

HI does anyone know anything about these.They seem expensive to get done.I've seen a pack in wh smith is it basicly the same.Would it be a pain to fill in?
I need to do something as my mother is gettng on a bit and i dont want her going not having anything in place.
Also would it be a good idea getting the house signed over to me?
Any semi sensible help would be good
thanks

I believe it changed last year to an LPA. Basically it allows you to manage the financial affairs of someone when they are unable to do so - like paying bills. Otherwise everything has to go through a court of protection which is very slow and cumbersome. As far as I know it doesn't help once they have died, but stand to be corrected.

As for the house, it can't just be given away - HMRC will see this as tax evasion - so you need to see someone qualified about this.

[ianash]

Simpo Two said:

baldy1926 said:

HI does anyone know anything about these.They seem expensive to get done.I've seen a pack in wh smith is it basicly the same.Would it be a pain to fill in?
I need to do something as my mother is gettng on a bit and i dont want her going not having anything in place.
Also would it be a good idea getting the house signed over to me?
Any semi sensible help would be good
thanks

I believe it changed last year to an LPA. Basically it allows you to manage the financial affairs of someone when they are unable to do so - like paying bills. Otherwise everything has to go through a court of protection which is very slow and cumbersome. As far as I know it doesn't help once they have died, but stand to be corrected.

As for the house, it can't just be given away - HMRC will see this as tax evasion - so you need to see someone qualified about this.

I don't think HMRC care whether or not you transfer ownership of the house. It remains within the taxable estate of the donor for 7 years. It is more of an issue with the local authority if you try and hang nursing home costs onto them by pleading poverty.

[Deva Link]

baldy1926 said:

Also would it be a good idea getting the house signed over to me?

Is there anyone else living in your Mum's house?

You could put it into trust to try to keep it from being sold to pay care fees, but the trust rules keep changing.

[baldy1926]

thanks -she lives on her own and i live 120 miles away,a trust may be useful

[Deva Link]

baldy1926 said:

thanks -she lives on her own and i live 120 miles away,a trust may be useful

You need to take proper advise from a solicitor who specialises in these things.

[baldy1926]

yep-i'm just deciding which arm or leg to donate;)