Unable to charge for my time for an LPA

This is the situation we had with the in-laws plus premium bonds and paper share certificates. Luckily both mentally fit in their 90s but it took ages to rationalise and sort out. They were annoyed that everything has to be online. Over the years they had created some on-line accounts but couldn’t remember passwords etc. They had created accounts with all the old building societies back in the day as lots of people did. DH and I explained each each item, they were missing out on interest, tracked missing accounts, organised an online share/isa platform but it was painful as everything needed explaining at least 6 times. I think they, and we, were surprised at how much money they have given Mil never worked but they are relieved that their money will cover any care home fees if needed.

As a result of the time it has taken DH and I have streamlined our finances to make it easier for our DC for when the time comes. Similar to @whyisnothingsimple

I personally think you should be able to charge for your time. Possibly not huge amounts but a nominal weekly payment type thing. Obviously not doing it for the money but it’d be nice to get a token appreciation. It could possibly be set using carer rates as a guide.

I love Excel, but there comes a point when accounting software is better.

Yes - unsurprisingly it’s there to make sure that professionals can be appointed as attorneys and can be paid for their services, but the legal foundation is the same.

Too late for this one, but easy to avoid a repeat. If he’d have bought you lunch as a thank you, you can act on his behalf and do that too.

OP you are doing the right thing because he is your brother and because you don’t really have much choice. Most of us will do it for someone at some point but yours sounds more painful as it’s been so muddled. He’s lucky to have you.

Have you tried MS Money? It’s no longer supported by Microsoft. I use the Sunset Deluxe edition (or something like that). I keep account for me and DH; and DD1 for whom, I am the appointee. Luckily we and her, both use banks which download directly into MS Money. It doesn’t produce full accounts - more like a cash flow report, although it’s possible to extract a balance sheet, consisting of balances at the bank accounts, credit cards, deposit accounts and investments.

I use VT for DH’s bookkeeping and partnership accounts. I can’t remember how much it is - probably £125 pa?

Although come to think of it, you don’t need to understand double entry for MS Money; but you do for VT!

Care home charges vary, and it depends what the person needs - and can pay for. The average is around £5800.

Sympathies I'm doing it for someone. Similarly complicated set up - tonnes of accounts, shares, an unclaimed pension, house in a poor state of repair.

It takes hours and the financial institutions are crap to deal with . I've written so many letters of complaint and there are still a few I don't have access to.

I also live 400 miles away.

I'm deeply resentful that because they failed to adult I've had to exhibit double black diamond adulting skills.

YANBU OP. I did this for an elderly aunt, my Dad’s sister, when Dad died. The hours and hours spent firstly getting the Deputyship changed from Dad to me. Then going through all the bank accounts, sorting out her pension, benefits, dealing with the LA, adult social services, the care home, making sure she still had her weekly hair appointments paid for, sending toiletries. Annual scrutiny from the Court of Protection, accounts submitted for the council, dealing with my co trustee in relation to an old life policy held in her favour. It just never stopped, there was never a week went by without me having to ‘do’ something. Like you, I could have used a solicitor, I’d only met her a handful of times, we weren’t close (she was schizophrenic), but it’s a sense of duty isn’t it. She sadly passed away last year, and I’m glad I did it - she was well cared for and had everything she needed. I’m pleased all the paperwork had stopped now though. My dad would have been proud I advocated for his sister for going on 10 years.

Couple of thoughts:

1. Dont repeat it for your future attorneys. You can put in provision for them to take costs including something for time when you set it up. They don’t have to, but it gives the option. It doesn’t solve it for you, but at leasts avoids a repeat.
2. Consider whether an accountant would help. As you say, it’s not particularly solicitor work and that’s expensive admin. But there’s probably tax returns etc, and bog standard high street accountancy services might be able to cover a chunk of that leg work for you and at least reduce the burden and on value for money vs time and hassle it saves you may well be well worth it (and can be paid for from his funds). Doesn’t solve the endless phone calls, but does reduce the other stuff.

Hi OP. Now your brother has lost capacity you can't change LPA anyway.

You would have to apply to appoint a Deputy through the Court of Protection.

They can charged it's true - but only if they are a professional Deputy.

Once there's a professional Deputy in place the OPG supervises and asks for a report once a year - this report includes things like making sure benefits are maximised and things like care plans etc.

A professional Deputy will be knowledgeable about things like CHC funding and tax returns, investments, annuities etc.

Just to add - once somebody's capital goes down to £20,300 they can't charge full rate - only 4.5% a year of the entire capital.

You can employ a firm of Solicitors - or your Local Authority.

I'm a Legal Caseworker for Court of Protection and I am always surprised how little people know about how hard it is to deal with somebody else's finances - it's a full time job for me!

It's a strain and if I were you I would pass it onto a Solicitor.

Half a million quid in the bank and couldn't be bothered to engage professional help? YOU might need legal advice if you're struggling to manage this size of estate.

Or nearly 4 hours a day for Monday to Friday every week for a year.

If an LPA is that complex it's either to manage a hugely complicated mess worth millions, or the attorney has no idea what they're doing - in both cases a solicitor should be engaged.

Job one should have been to streamline and simplify the finances so you are spending minimal time managing them. I don't spend even 4 hours a month sorting my own finances, there's no way I'd be giving up my job to manage such a complicated situation.

If he was ever hospitalised under the mental health act for any reason, you said he had mental illness, then a treatment section 3 entitles the patient to free aftercare. It would be on his medical records.