A couple had written into the programme asking for advice when a bank would not limit the amount of money that could be withdrawn by their elderly mother who had dementia. As there was a power of attorney in place, they could not understand why the bank would not take their instructions.

Floyd, who is a leading practitioner in mental health law and Chief Assessor to The Law Society’s Mental Capacity Accreditation scheme, explained that there are strict rules to be followed when deciding whether someone has or has not sufficient mental capacity to manage their own finances.

“People with dementia are vulnerable,” explains Floyd “and the rules are there to prevent abuse, particularly when there is a transfer of power over someone’s finances.”

Click here to listen to the interview on Moneybox.

For more information please contact Floyd Porter 020 7426 0400 or email fp@milesandpartners.com.