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susan m
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09-04-2016, 09:20 PM
1

power of attorney advice please

Discussed with my son and daughter today about the above subject and would like some guidance on this from those who know .

I own my own home and wonder what the implications are if I was taken into a home or became unable to look after myself .

I am quite ignorant about what all this means , so your help would be appreciated

Thankyou
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09-04-2016, 10:01 PM
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Re: power of attorney advice please

Originally Posted by susan m ->
Discussed with my son and daughter today about the above subject and would like some guidance on this from those who know .

I own my own home and wonder what the implications are if I was taken into a home or became unable to look after myself .

I am quite ignorant about what all this means , so your help would be appreciated

Thankyou
Just a bit of info Susan, hope it helps.....
When Mum passed away in 2009 Dad was struggling to cope with bills and stuff - Mum had always done it. I tried to do things for him (pay bills and draw his pension) but kept hitting brick walls. The bank suggested that I applied for power of attorney.
I visited the registrars website and found out that you don't need to enlist the help of a solicitor. I downloaded loads of sheets of questions and filled them all in. There are helpful instructions that guide you through the procedure, so I filled them in and posted them off. I received an invitation for an interview at Sheffield Law Courts. I later received a certificate through the post and it gave me complete control of Dads affairs.
It's been a few years now so I might have forgotten some bits, but you can do it all online if you wish and it's a lot cheaper than through a solicitor.
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09-04-2016, 11:03 PM
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Re: power of attorney advice please

I think if you hand your home over to your children now - after a space of seven years it becomes theirs and it can't be used to pay for your nursing home fees.
If you still own your home when /if you need to go in a nursing/residential home - the house will have to be sold to pay the nursing home fees.

I know a couple who handed their house over to their kids and now the seven years are up they've moved out and gone into a council bungalow ... I assume the kids have sold the house and split the money..

I'm not sure everything I've just said is spot on - not without questioning the couple further - but that's the gist of it.
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09-04-2016, 11:27 PM
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Re: power of attorney advice please

I have had a little experience, albeit some years ago when I applied for PoA when my mother contracted dementia and the law may have changed since. Power of Attorney gives someone power to sign in your name in all matters apart from housing. You can write cheques, pay bills and do all the things the person would normally do, but not sign away property. To do that, you have to apply to the Court of Protection to be granted full rights in a persons affairs.

Be aware that if someone is trying to dispose of their assets to prevent a forced sale of home to pay for care, the authority will have a claim up to seven years afterwards. However under the Insolvency Act, you can't make yourself skint to gain benefits.

The payment of care (at least when I went through the legal mill of paying for care) works on the basis that your home can be sold to pay for your care, unless someone is already living in it. The local authority can alternatively lend you the money to pay for care to the value of the property. Upon death, the authority can then claim the full value of the property after fifty days, accruing interest.

If you have any doubts, engage a solicitor/seek legal advice to your circumstances and explore options to protect your assets.
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09-04-2016, 11:41 PM
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Re: power of attorney advice please

Power of Attorney, I
There's different types.
To get a PoA you must get the relevant forms or instruct a solicitor.
A lasting PoA is forever, until your death or you revoke it.
You can apply for LPA for different matter, in your case for property and financial affairs.

This application is lodged at the Office of the Public Guardian in Birmingham.
Once it's lodged you'll probably have about an 8 week wait for the granting and receipt of the official certificate with seal.

The reason for the wait is for any objections to be lodged, ie: another family member may disagree.

It's red tape but there for your protection.
Goldielocks
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10-04-2016, 12:13 PM
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Re: power of attorney advice please

Hi Sue I would be very cautious. Depending on what health authority you are under and who runs the purse strings they can still insist the house be sold to pay for continuing care. Or you will be discharged into council state run home if your son and daughter do not want you to live with them as there is no guarantee what illnesses you will develop in the future.

Private care will mean you need to sell your home or in some cases rent out your current home to part pay for very expensive health care.

I sadly worked in the health sector and saw homes taken away from folk.

Have you thought about warden controlled housing. You can get some nice ones you can either partly pay or rent. That would also free up finance for you to give to the children or put into a saving account.

Hope that does not sound doom and gloom. Hopefully things ma y change in the future x
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susan m
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10-04-2016, 07:02 PM
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Re: power of attorney advice please

Thankyou everyone , it's been a thought in my mind for a while . I will take on all your advice . I guess there's nothing wrong with wanting to protect our children's futures with what little we may wish to leave them . In my case just a small 2 bed terraced house .

I won't do anything rash , but will look into it .

Thanks to you all
Goldielocks
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10-04-2016, 10:03 PM
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Re: power of attorney advice please

Good luck Sue x
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11-04-2016, 06:14 AM
9

Re: power of attorney advice please

What a pity someone hasn't thought to introduce the Australian system of aged care. Here if you go into a nursing home, you have to pay a bond of about $250,000 (varies a bit from state to state) BUT if you have to sell your house to raise that amount at the end you get all but a few thousand (for admin costs) back into the deceased's estate.

The government invests it and uses the interest on the amount to cover the main cost, and you then pay a daily fee according to your income which cannot be more that 80% of any pension you have. Because she also had quite a substantial amount in the blank my mother pays $1600 (£800) a month daily fee which is more than covered by her pension and bank interest. If she hadn't had money in the bank the fee would be lower.

I'm an only child and have PoA for her and when she passes on I will get about $240,000 back plus whatever else she has in the bank. If you can't raise the Bond money, you will still get into a nursing home but not of your choice and possibly be on a waiting list. So the well-of pay for the por in the end.
Goldielocks
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11-04-2016, 09:34 AM
10

Re: power of attorney advice please

Entirely agree Jaywallker. When folk are unwell and a decision has to be made it is so hard for everyone. They cannot stay in the healthcare system due to budgetary constraints. You also have a much better healthcare system whereby you do pay via salaries.

Many a healthcare professional are flocking to Auz. x
 
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