Lily had been recently widowed and was getting into quite a muddle with her money when I first met her. Her husband Ray had always sorted out the bills and looked after the investments. He had written all the cheques and she couldn’t remember the last time she had sorted out any finances on her own – probably before she was married.
Lily was worried that she would not be able to cope. One of her neighbours was taking a bit too much interest since her husband died. Because Lily has mobility problems her neighbour was fetching cash from her bank using Lily’s PIN no. She did not have any family members nearby she could trust and she was worried about becoming too dependent upon the neighbour who up to now had never befriended her.
After she heard about us Lily called our office and I went to visit her. She decided to give me Lasting Power of Attorney which means I can now help her with the money issues when she needs it and sort out her bills and investments on her behalf. I helped her apply for Attendance Allowance and organised a carer/companion to come and assist her three times a week with the cleaning and shopping and taking her out on visits. We have also started to look at buying a stair lift to reduce the risk of falls. I arranged for a financial adviser to meet her with me and went on to organise some safe investments which would provide her with a better income. And she is trying out a Meals on Wheels service which delivers a hot meal to her door every day, along with a cold meal for tea when she wants it. Hopefully with the extra support Lily will be able to stay at home for longer.
The Lasting Power of Attorney does not mean that Lily cannot still deal with her own money as she begins to get more confidence. But she can sleep easier knowing that she will have some backup from professionals as and when she needs it.
If you would like to discuss future planning in a free initial consultation contact Rosalind Watchorn Solicitors today to discuss your situation with a member of our specialist will-drafting and later-life planning team. Telephone 0114 229 0160 to arrange an appointment with one of our solicitors.