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Good afternoon, thank you for contacting Just Answer my name is***** am a solicitor and I will be assisting you today. Can you clarify your question so that I can best advise you?
Thank you for the clarification, unfortunately this is outside the scope of my expertise therefore I will opt out to allow another expert to pick this up.
Good morning thank you for your question, I wonder if you mean appointing someone under a Lasting Power of Attorney who can control your finances and keep them in order for you? So they would be your attorney.
Good morning please contact me again if you need further assistance.
Hello, yes it could be possible. The problem would be if you insisted on having extra money to spend then it would not always be possible for the Attorney to refuse your request. You consider putting the rest into an investment which generated some income for you, would it be very much money?
Let me have a think, whereabouts are you?
It might be better in a Trust with you and your child as the beneficiaries I think. How much roughly would you want to put by for living expenses?
So you would put by a lump sum and draw £5,500 a month? There would be fees for the Trustees too but a direct debit could be put in place?
Well hourly rates are usually £260 an hour plus VAT, but it could mean seeing how things go for several months and then take a view on it. There would be the cost of setting up the Trust which would be probably £1,000 to £1,500 plus VAT?
So most would need to be invested with cash held in a client account for extras.
Thank you, ***** *****