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Aston Lawyer
Aston Lawyer, Solicitor
Category: Law
Satisfied Customers: 10412
Experience:  Solicitor LLB (Hons) 23 years of experience in Conveyancing and Property Law
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Our 92 year old Mother gave us 3 children Lasting Power of

Resolved Question:

Our 92 year old Mother gave us 3 children Lasting Power of Attorney for her finances in 2011. She has been in a Care Home for nine months (self funded) and fortunately, she is extremely happy.

We are in the process of selling her flat, simply because it is uninhabited and we are still paying out charges, etc. Would the law allow us to share the £133K proceeds between us. She has always said that the flat is ours, but, presumably, this doesn't count as it has never been done legally, and now she is suffering from dementia.

Her Will has the three of us (Joint LPA) as sole beneficiaries. The way we were looking at it is that it's a share of our future inheritance.

There is still about £150K which we believe will cover her care home expenses.

We are anxious not to do anything illegal, but, our ages range from 68 to 73 and we could do with the money sooner rather than later.

Whatever way, we're not trying to bend the law and we have no intention of touching the money if it is illegal to do so.

Your views would be greatly appreciated.
Submitted: 3 years ago.
Category: Law
Expert:  Aston Lawyer replied 3 years ago.
Hello and thanks for using Just Answer.

My name is XXXXX XXXXX am happy to assist you with your enquiry.

I'm afraid to say that under no circumstances are you all entitled to divide the net Sale proceeds between you. As Attorneys, your legal power only grants you the right to look after your Mother's financial affairs, and not to use them as your own.
I appreciate the Sale monies are your future inheritance, but these monies have to be deposited into your Mother's account. The Solicitor dealing with the Sale will also insist that this is done. Once the monies are in your Mother's account, they should remain there and should not be transferred to the 3 of you.

Sorry this is not the answer you were looking for, but it sets out the legal position.

Kind Regards
AL
Customer: replied 3 years ago.

Many thanks for your honest opinion. We are now content in the knowledge that we haven't done anything dishonest/illegal.


 


Kind regards,


Maureen x

Expert:  Aston Lawyer replied 3 years ago.

Thanks Maureen.

If you are happy with my Answer, I would be grateful if you could leave positive feedback.

Kind Regards
AL
Aston Lawyer, Solicitor
Category: Law
Satisfied Customers: 10412
Experience: Solicitor LLB (Hons) 23 years of experience in Conveyancing and Property Law
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