Making it easier for the family
Last updated at 14:15, Tuesday, 29 May 2012
Q My dad has recently gone into care. Is there anything that my mum needs to do about her own Will?
A Yes. It is very important that your mum has a look at her own financial arrangements.
It may well be that she and your dad made Wills years ago, leaving everything to each other and then to their children after they have both died.
If she has done this, and then she dies first, all of your mum’s assets will go to your dad and may be swallowed up in his care fees.
If she and your dad have not made Wills and your mum dies first, the chances are that her assets will pass straight to your dad, and the same could happen.
All of the children's inheritance could go on payment of care fees.
Although it is too late for your dad to do anything to protect his assets, there is a lot that your mum could do to safeguard at least some of the family assets.
She should do this as soon as possible, and make an appointment to see a solicitor.
Q Is there anything else that she could do to make things easier for the family?
A If your mum has not already set up a Power of Attorney, this would be a sensible thing to do.
Even if it is too late for your dad to appoint an attorney, your mum would probably feel happier knowing that the she has set something up so that someone she trusts can look after her own financial affairs if she becomes less able to do so herself in the future.
If she does nothing and then loses capacity herself, there would be no one with authority to look after either of your parent's finances and you would need to make an application to the Court of Protection, which can take a long time and be very expensive.
At Poole Townsend we have a team of experts who can help your mother with practical advice and support.
The first interview is free and we would give her a fixed price for sorting things out before we start work.
For a free appointment without obligation telephone Michelle on (01229) 402229 or Jane on (01229) 402243.
Like us on Facebook. Follow us on Twitter. Visit www.pooletownsend.co.uk/targetspouse
First published at 13:12, Tuesday, 29 May 2012
Published by http://www.nwemail.co.uk
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