Re: power of attorney advice please
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.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.Re: power of attorney advice please
Power of Attorney, IRe: 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.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 .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.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.
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