By Tanya Jefferies of Thisismoney.co.uk
Updated 04/22/2023 07:00, 04/22/2023 07:31
I have just received a lasting power of attorney for my father’s property and finances.
He is in a nursing home because of vascular dementia. When his savings run out, I may have to sell his house to pay for his medical bills.
He made a will stating that when he died the house would be sold and the proceeds split between my sister and me.
However, after a major family disagreement, she was completely uninvolved in his life and was abusive to him financially.
What happens to her share of the sale of the house when he dies?
He talked about changing his will so that all the money from the sale of the house would come to me.
Is it too late for him to change his mind because he still has enough psychic abilities to know what he’s signing? to your savings account?
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Tanya Jefferies of This is Money answers: I am sorry to hear that your father is very ill and that your sister has acted shockingly towards him at this vulnerable time in your life.
You and your family are dealing with the painful after-effects of that, but now that you have a power of attorney and can make decisions about selling your home, you are in a stronger position to help your father. It seems to be in
If he is energetic enough to discuss it, I would appreciate it if I could do this with his help.
We have asked our attorneys to explain your options and how you can change your will to ensure that the person with dementia honors their current wishes and cannot be challenged later.
Jaz Virk, Head of Private Clients at Brindley, Twist, Tafft & James, said: “Perpetual Power of Attorney” means that you have been given the responsibility of managing your father’s financial and property matters on his behalf.
He should be involved in every decision he can, even if his ability to do this himself fluctuates.
Given the increasing costs of nursing homes, it is very common to sell a parent’s former property to accommodate them.
However, before selling the property, we recommend that you seek financial advice to consider the options available to you as an attorney.
If your father sells the house during his lifetime to help with child support, you and your sister will get an equal share of what’s left if her name was in the will when you died. is entitled to receive Beneficiaries of residual assets.
Residual estate means after taxes and all other debts have been paid and the estate, such as cash and other gifts, has been distributed.
If there are no funds left, neither you nor your sister will benefit.
Can your father change his mind?
If your father made a will stating that he wanted the house to be sold and the proceeds split between you and your sister after his death, the funds from the sale of the property would be divided. To you and your sisters by an executor (which may include you and/or your sisters).
It’s worth making sure you and your sister are also the beneficiaries of the residual property in case the property is sold while your father is alive.
Unfortunately, regardless of your sister’s actions, the will your father made still remains.
That said, it’s important to keep a record of any disagreements, especially evidence of financial abuse.
Your father has the full right to change the will, but make sure the document is made and executed correctly and that the original is kept safe for reference after his death is needed.
A person with dementia can change a will, but your father must prove that he has the necessary “testamentary capacity”, meaning the understanding necessary to make a valid will. there is.
How should your father change his will if he wants to?
To make sure your father has the ability to do so, and that his decisions were not unduly influenced, you should direct a legal professional to draft a new will.
A lawyer will assist you in this process. Also, in situations where someone may be renounced, an independent party may wish to be involved.
This process usually requires an attorney to visit the father first for guidance. If the father has been diagnosed with vascular dementia, the attorney will want a professional to assess and verify his abilities.
This may also be useful if, after the death of the father, the sister tries to contest the will on the grounds of incapacity.
It’s not always enough for your dad to know what he’s signing.
Under the Mental Abilities Act 2005, your father must prove that he understands the effects of making a will and the scope and value of property. To reach certain moral judgments about property and them.
Unless you can prove that your father has testamentary capacity, you cannot change the will yourself.
What if your father doesn’t have the ability to change his will?
As the owner of your father’s power of attorney, you may apply for a “statutory will” in the Court of Protection.
Protective courts are specialized courts that help people who are incapable of managing their own affairs.
The court will require medical proof of your father’s incapacity, family details, assets, and a proposed new will.
Your sister joins the lawsuit as a person who may be disinherited by a statutory will.
If she disagrees with the proposed statutory will, the process is much less straightforward and may require a court hearing in addition to a paper application.
In such situations, an “official solicitor” is appointed to represent your father’s interests. The court must make sure that the proposed statutory provision is in your father’s best interests. existing will.
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