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LPA property & finance - immediate or when no longer has capacity

2 replies

thillanddale42 · 24/10/2023 22:54

Hi there
Can you tell me your practical experiences as an attorney of an LPA P&F of having the donor ticked the 'when registered' box vs the 'when lost capacity' box. My mum is adamant that she won't pass any control over to us, the attorneys, until she has lost capacity ( she has it in spades now). I am thinking on thr other hand about:-
(A) who then asseses capacity and how in practice is that documented when we think that has happened ? How long would it take for e.g.
(B) what would an institution need to be able to register the LPA with them if it is only when she has lost capacity? Presumably the document above ?
(C) - if you no longer are deemed to have capacity are your bank accounts frozen ?
(D) if she gives authority now, can she state how far that authority goes and where does she state that ?
Totally understand her pov but concerned that at the point at which this all becomes tricky, what I thought might be easy, is just an additional layer to make it all trickier ?
It's a minefield. Thank you in advance !

OP posts:
AudiobookListener · 25/10/2023 09:20

She can give authority now but keep the actual poa document herself. Then it can only be used with her permission, when she hands it over. I personally wouldn't use a financial poa if the person still had capacity because I'd be worried the bank would automatically assume lack of capacity and freeze the account. Get it registered right away though.

Musicaltheatremum · 26/10/2023 17:40

My husband has poa for his father. (Finance and welfare) Father has full capacity but my husband manages all his finances as he has vision and hearing problems so it's easier. The bank have a record of who has logged into the account so husband keeps detailed records of everything he does. They won't automatically freeze the account if the box to operate immediately is ticked.

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