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Setting up a Third Party Mandate, Lasting Power of Attorney or appointing a Deputy
Syndication, API, Health A-Z, Guides, Live well, CHQ, Behind the headlines
Carers or personal assistants can help you live independently in your own home. If you decide to appoint one directly, using your own money or with direct payments, there’s a lot to think about.
When a family member is managing your money for you, or for another family member, concerns can crop up. Often the problems can be easily sorted out.
How to get help and advice if someone is hurting you physically and emotionally or if you think someone is stealing from you or exploiting you financially.
Even if you’re able to manage your money yourself now, it can be worthwhile thinking about who’d help you if you couldn’t do it any more.
Arranging to formally manage someone’s money for them is a big step – both for you and the person you’re helping. It means that at some point, now or in the future, you could have complete responsibility for their finances and their interests.
It’s essential to plan for how your money should be handled in the event of an illness or death. Good planning will help make sure you or your family are ready to meet any of the costs that might arise. It will also allow you provide for your loved ones and ease the burden on them.
If you know that you’re going to find it more difficult to manage your money in the future, it’s a good idea to get some measures in place now so that someone else will be able to do it for you