Not sure if anyone here will be knowledgeable on this this topic and i'm not after any specific advice as to whether it's worth doing or not.
My parents setup a will and POA around a year ago, and the advice they were given was that to save spending money needlessly, they shouldn't register the POA documents as there's a fee involved. However since the forms are complete and signed. Should their mental state deteriorate, then we can then apply for POA using the pre-dated forms.
My mother in law has just had a similar conversation, and i brought up the above point and his response was that they're worthless unless filed, and that due to processing times (around 6 months), if filed after the mental ability deteriorated then they wouldn't be granted anyway and was therefore a waste.
Wondering if anyone else knows the specifics here, obviously the above is 2 professionals each with their own advice and it's difficult to know who to believe!
My parents setup a will and POA around a year ago, and the advice they were given was that to save spending money needlessly, they shouldn't register the POA documents as there's a fee involved. However since the forms are complete and signed. Should their mental state deteriorate, then we can then apply for POA using the pre-dated forms.
My mother in law has just had a similar conversation, and i brought up the above point and his response was that they're worthless unless filed, and that due to processing times (around 6 months), if filed after the mental ability deteriorated then they wouldn't be granted anyway and was therefore a waste.
Wondering if anyone else knows the specifics here, obviously the above is 2 professionals each with their own advice and it's difficult to know who to believe!