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UKSolicitorJA
UKSolicitorJA, Solicitor
Category: Law
Satisfied Customers: 4312
Experience:  English solicitor with over 12 years experience
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My brother & I have lasting power of attorney for my mother

Resolved Question:

My brother & I have lasting power of attorney for my mother who has dementia. My query is similar to one submitted 10 days ago. My father wishes to loan me money to buy a house but I need a further £30k which my father thought we could obtain from my mother. We are concerned at using the money in this way and, as you advised the other person it should be for the benefit of our mother. I have been told that as long as all the attorneys agree it would be ok but what would you advise
Thank you
Submitted: 3 years ago.
Category: Law
Expert:  UKSolicitorJA replied 3 years ago.
Hello,
As long as you both hold a property and financial affairs LPA and there is no restriction on lending money to the attorneys, then you may receive the money from your mother under the LPA provided it is registered and both attorneys agree.
If it is a loan, you should document the repayment terms and repayment period.
Hope this helps
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