Churchstreet
Registered User
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- 12
Over 12 months ago my father consulted his solicitor about the General Power of Authority (while he is living ) and the Enduring Power Attorney (Should he cease to have his faculties eg Dementia, Stroke etc).
The Solicitor forwarded on a letter of engagement etc and I noted in the documentation that (I as his son and Attorney and only offspring) would have Power of Attorney over his properties, but it expressedly stated not EPA over his bank account(s). My father decided not to proceed (Not entirely sure why), but I suspect costs were an issue.
I still EPA needs to be put in place. I looked into it myself and it looks like the General Power of Attorney has been replaced with the Decision Support Services application. At the very least I believe my father should have EPA in place (He had a minor stroke 6 months ago).
My mother passed away in a Nursing Home nearly 2 years ago and the advice from my fathers accountant was that if he needed to go into a Nursing home that he would not pay to apply for the Fair Deal Scheme as was the case with my mother as their assets will not be halved for calculation purposes and hence would not be worth his while applying for the fair deal scheme.
The only thing he advised is that as I pay the high rate of tax, should my father need to go into a Nursing Home, I pay the bill directly myself in order to be able to claim full tax relief (as a pensioner he pays very little tax) However, to have a realistic chance of doing this over a sustained period (Greater than 6 months) I would need access to his savings account to transfer cash to my account or else I run into trouble with cash flow.
Will EPA give me the ability to access his bank account in the case he needs to go into a home and at least use my tax credits to offsite the NH costs against my tax bill ?
The Solicitor forwarded on a letter of engagement etc and I noted in the documentation that (I as his son and Attorney and only offspring) would have Power of Attorney over his properties, but it expressedly stated not EPA over his bank account(s). My father decided not to proceed (Not entirely sure why), but I suspect costs were an issue.
I still EPA needs to be put in place. I looked into it myself and it looks like the General Power of Attorney has been replaced with the Decision Support Services application. At the very least I believe my father should have EPA in place (He had a minor stroke 6 months ago).
My mother passed away in a Nursing Home nearly 2 years ago and the advice from my fathers accountant was that if he needed to go into a Nursing home that he would not pay to apply for the Fair Deal Scheme as was the case with my mother as their assets will not be halved for calculation purposes and hence would not be worth his while applying for the fair deal scheme.
The only thing he advised is that as I pay the high rate of tax, should my father need to go into a Nursing Home, I pay the bill directly myself in order to be able to claim full tax relief (as a pensioner he pays very little tax) However, to have a realistic chance of doing this over a sustained period (Greater than 6 months) I would need access to his savings account to transfer cash to my account or else I run into trouble with cash flow.
Will EPA give me the ability to access his bank account in the case he needs to go into a home and at least use my tax credits to offsite the NH costs against my tax bill ?