The latest newsletter of the Office of the Public Guardian for England and Wales includes articles which feature guidance for deputies (and which is also relevant for Attorneys) on securing financial assets, expenses, online reporting and applying the Mental Capacity Act 2005’s five basic principles when making decisions.
If you have been appointed by the Court of Protection as a Deputy to manage another person’s finances as they are no longer able to do so themselves, then you may find the Office of the Public Guardian’s spring newsletter helpful:
A lot of the guidance included in the newsletter also applies to attorneys acting under a Lasting Power of Attorney, although some issues discussed, such as deputyship bonds, only apply to deputies.
Usually, the Office of the Public Guardian applies a more relaxed level of supervision of attorneys than deputies. It is also substantially cheaper and simpler to put in place and subsequently for your attorneys to act under a Lasting Power of Attorney than a Deputyship Order.
Perhaps the most important difference between a Lasting Power of Attorney and Deputyship Order is that you would put a Lasting Power of Attorney in place in advance to select the people who you would wish to manage your finances should the need arise in the future, whereas a deputyship order would be used in circumstances where that need has arisen but you no longer have the ability to put a Lasting Power of Attorney in place.
This means that you can choose suitable attorneys, whereas the court would choose suitable deputies on your behalf. There is a possibility that the court might not choose the same people that you would have chosen.
Furthermore, the process to apply for a deputyship order also only starts once somebody needs to manage your finances for you, and can take several months, whereas if a Lasting Power of Attorney is already in place and registered, it can be used immediately.
For these reasons, if you do not already have a Lasting Power of Attorney in place, we always suggest that it is sensible considering whether it would be worthwhile to do so.
At Jordans Solicitors, we would be pleased to assist you in the preparation of your Lasting Power of Attorney, in applying for a Deputyship Order, or if you are already acting as an Attorney or Deputy and need assistance. Our cost for a single Lasting Power of Attorney is £395 plus VAT (or £495 plus VAT for a pair of Lasting Powers of Attorney). There is also a fee of £82 per Lasting Power of Attorney which must be paid to register them with the Office of the Public Guardian before they can start being used.
We are also pleased to assist you, both in relation to planning your Will, or dealing with probate issues after death. We are on hand to help with any queries you may have in regards to Wills and Probate issues. Our wills and probate solicitors are based in Wakefield, Dewsbury, and Horsforth. Feel free to call us on 0330 300 1103 or request a call back by clicking here.