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Financial planning, POA, advice for recently widowed Mum

27 replies

julesover40 · 25/05/2024 07:10

I dont really know what I'm doing or where to start. We recently lost my lovely Dad , suddenly, and he has left alot of 'loose ends' behind.
His will was over 20 years out of date. We're not talking huge amounts on money, maybe a few hundred thousand plus the family home.
Everything will pass to my mum, so no issues there. But how do we go about looking after mum's interests? She is only early 70s ,in good health thankfully.
We need to get a new will drafted, a POA put in place for the future, of which she's in agreement with. Do we need to get a an IFA? or a financial planner? f so where to even begin finding someone she can trust. Mum is of the era of trust no-one.
We really want the existing savings to be working for her so she doesn't need to worry.
Their 'current' solicitor seem pretty useless, so don't really want to go to them for advice.
Any advise or pointers appreciated x

OP posts:
toomanytonotice · 26/05/2024 12:45

TizerorFizz · 26/05/2024 04:49

You and Yours reported big issues with joint attorneys. I don't expect my dd to do anything illegal. She is a barrister. Other dd didn't want to be an attorney. We are open about money so no one will be breaking the law or stolen from. Evan as sole attorney it's been a PITA for me. Most organisations I've dealt with have been difficult and slow. Most don't do what they say they will. They ask for info and then, after it's been provided, ask for more. In fact several have no info on their web site about working with an attorney at all. You have to contact the bereavement dept. it's been a shambles.

The bereavement dept won’t help as the same person is also executor, so on top of them taking everything when they were alive, the banks have paid out to them and they are refusing to administer the estate. Will cost ££££ in legal fees, especially as they say probate isn’t needed, so the beneficiaries will have to let it go.

if your dd is a barrister then that reassures- I am a sole POA but I also have a reportable job so my job’s on the line if I act incorrectly.

TizerorFizz · 26/05/2024 19:31

@toomanytonotice

DDs would be too. There are people who are just not trustworthy. Families are not exempt,

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