Many of our SFP clients tell us that they want to help their parents as they age, especially when frailty sets in and routine tasks become overwhelming. As we’ve covered in two recent blogs, Power of Attorney (POA) can seem like a natural solution: a way to step in and support them with day-to-day financial matters, from banking to paperwork.
But here’s what many don’t realise: POA is a tool of convenience, not a substitute for capacity. Our previous blogs outline that it allows you to carry out your parents’ wishes only while they can still make decisions. Once they lose the mental ability to understand and consent, POA loses its power.
That’s why we encourage families to think beyond the short term. If mental decline becomes a factor, you’ll need to consider:
Curatorship: a legal process requiring court application, medical evidence, and legal professionals
Administration Orders: less expensive, but with more limited powers and ongoing reporting to the Master
Family Trusts: a powerful pre-emptive option that can preserve dignity and avoid court intervention – if set up in time
No one wants to think about these things. But planning ahead means fewer crises, fewer regrets, and far more dignity for everyone involved.
If this feels like a conversation you’ve been avoiding, we’re here to help you start it.