Understanding ongoing powers of attorney; what happens if you cannot make decisions about yourself.
An indefinite power of attorney gives a friend or relative the power to make financial decisions for you if you can't
None of us probably likes the idea of a court deciding who should look after our finances if we’re incapable of doing so. But the fact is that unless you’ve drawn up a legal document saying who should look after your finances, that’s exactly what could happen. So, make sure you get an ongoing power of attorney drawn up while you're still of sound mind, so someone can look after your finances if you lose mental capacity.
Understanding state benefits such as attendance allowance that elderly people who are ill or disabled can claim.
If you or your parent becomes ill or disabled, what state benefits are available?
If your parent develops a serious illness, such as dementia or cancer, the financial consequences will probably be the last thing on your mind. But the fact is that elderly people who are ill or have a health condition may be entitled to attendance allowance. It's a non means-tested benefit and it could make a big difference to your income.
What are deferred payment agreements if you need to pay for your long-term care?
If you have to pay your care fees, you can put off selling your home until after you’ve you died. How do deferred payment agreements work?
The introduction of the Care Act means that from 1st April 2015, if you live in England and have to pay for your long-term care, the local authority has to offer you a ‘deferred payment agreement. That means you can delay paying the local authority for your care until you choose to sell your home or until after you’ve died. How do deferred payment agreements work?