LPA and SIPP

[-Cappo-]

My SiL has a LPA for my FiL covering all his financial matters. He’s 85, has stage 4 cancer, but isn’t very “ill” yet, and is fairly compos mentis although easily muddled by change. He is in a full time care home, partly of his own choice.

He has a SIPP (with Suffolk Life, if that makes any difference) which to date he hasn’t touched at all. However he now wants to start drawing down to pay for his care. SiL has contacted Suffolk Life to start this, but they won’t discuss it with her or action anything, and are adamant that they will only deal with the FiL (face to face, I believe, which just adds to the stress).

Is there any reason why a SIPP provider won’t work with a LPA? There aren’t any other factors as far as we’re aware, ad whilst MrsC doesn’t hold the LPA - her sister does - all financial matters are discussed between the three of them. The main reason the SiL holds it is simply geographical.

Just seems odd to me, and is causing more work and concern at an already difficult time. I wondered whether there are different rules for the LPA when dealing with a SIPP?

[Panamax]

There are two types of LPA: one for property and financial affairs, and one for health and welfare.

Is the LPA in question the right type? If it is the financial type it should be exercisable at any time, whether or not the donor has lost mental capacity.

More on this link,
https://qlaw.co.uk/power-of-attorney/lpa-who-decid...

[-Cappo-]

Yes, it’s definitely the property and financial type. The SiL already deals with multiple other aspects of his finances. It’s just this one where the provider won’t discuss?

[Panamax]

Sounds odd to me. Has she sent them a certified copy etc? They're certainly not just going to take someone's word for it on the phone.

[-Cappo-]

Panamax said:

Sounds odd to me. Has she sent them a certified copy etc? They're certainly not just going to take someone's word for it on the phone.

I'll try and find out more. The FiL was a partner in a law firm before he retired, so he knows what's what and has passed that knowledge on. Would be odd if they had just missed something simple.

[alscar]

-Cappo- said:

Panamax said:

Sounds odd to me. Has she sent them a certified copy etc? They're certainly not just going to take someone's word for it on the phone.

I'll try and find out more. The FiL was a partner in a law firm before he retired, so he knows what's what and has passed that knowledge on. Would be odd if they had just missed something simple.

Depending on when the LPA was organised and assuming it was registered accordingly it is also possible to allow third party providers access to it although not all companies seems to accept this.
I had to get Phoenix Life to accept some instructions on behalf of a relative who I held LPA for and they refused to use this system.
However they were happy just to receive a scanned copy of the original !