Managing someone else's money
Are you thinking about letting someone else manage your money?
Money Box · BBC Radio 4
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Show Notes
Who will take care of your affairs if you can't and how do you go about giving someone the right to manage your money?
It can be a big step for everyone involved but setting up a power of attorney is one way to allow someone to control your money and personal needs. One or more people can help with dealing with your bank, paying your bills, and arranging care.
But what if an individual doesn't have the mental capacity to grant power of attorney and what can you do if you're concerned that a relative's finances aren’t being managed responsibly?
Presenter Felicity Hannah is joined by:
Sandra McDonald, former public guardian for Scotland Melinda Giles, partner at Giles Wilson Solicitors Sarah Murphy, associate director for advice, information & training at ReThink
We’d love to hear from you if you’re thinking about letting someone else manage your money or if you’d like to share your experience as an attorney. Please get in touch: [email protected] or tweet @MoneyBox.
Producer: Darin Graham Editor: Rosamund Jones