If you’re unable to manage your own affairs, but have not put a Lasting Power of Attorney (LPA) in place, your family can apply to the Court of Protection for a Deputy to be appointed to deal with financial affairs on your behalf.
This process is more complicated and time-consuming than registering a LPA.
Although anyone can be nominated as Deputy, provided they can demonstrate their suitability to the Court of Protection, they will still need to be approved and formally appointed by The Court of Protection.
The Deputy is responsible for keeping in contact with the client and their family, consulting over day-to-day needs, and how money should be spent. The Deputy is responsible for managing income flow to cater for the client's regular living expenses.
It’s usual for the Deputy to be a relative, but if there isn’t anyone willing or suitable to take on the role, the family may ask a professional such as a solicitor or accountant to do this for them.
Our Mental Capacities team regularly advises on the appointment of Deputies and, in appropriate circumstances, we will act as Deputies. We deal with applications to the Court of Protection over lifetime tax planning and gifts, and the preparation of court-approved (statutory) wills.
Your other options:
Power of Attorney – a legal document giving someone else the power to manage your financial affairs
Statutory Wills – a Will made through the Court of Protection when the person does not have the mental capacity to make their own.