What is a Deputy?
A property and financial deputy can be appointed by the Court of Protection to manage the property and financial affairs of someone who lacks the capacity to do so themselves. The specific duties and responsibilities of a property and financial deputy can vary depending on the circumstances, but some common tasks include:
What can a Deputy do?
1. Managing finances: A property and financial deputy is responsible for managing the finances of the person they are appointed to represent. This may include paying bills, managing bank accounts, and ensuring that the person’s financial affairs are in order.
2. Claiming benefits: A property and financial deputy may be responsible for claiming benefits on behalf of the person they are appointed to represent, such as disability benefits or pensions.
3. Making decisions: A property and financial deputy may be responsible for making financial decisions on behalf of the person they are appointed to represent, such as investments or property management.
4. Reporting: A property and financial deputy is required to provide yearly reports to the Court of Protection about the management of the person’s financial affairs.
5. Advocating: A property and financial deputy may be required to advocate on behalf of the person they are appointed to represent, ensuring that their rights and interests are protected.
6. Estate planning: A property and financial deputy may be responsible for estate planning, such as creating a will or managing the person’s assets.
What can a Deputy not do?
1. Misappropriate funds: A property or financial deputy cannot misuse or mishandle the funds entrusted to them, ensuring they act responsibly and honestly.
2. Conflict of interest: A property or financial deputy must avoid engaging in transactions that create a conflict of interest or benefit themselves at the expense of the person they represent.
3. Unauthorised use of assets: They cannot use the person’s assets or property for personal gain or purposes not authorised by the court or relevant authorities.
4. Unauthorised changes to legal documents: They cannot make unauthorised alterations to legal documents, such as wills, trusts, or powers of attorney, and must follow the proper procedures for any necessary changes.
These are just some of the things that a Deputy cannot do. Please get in touch to find out more.
Why would you need our Deputy service?
LEGAL AUTHORITY
A property and financial deputy is appointed by the Court of Protection to make decisions on behalf of someone who lacks the capacity to make these decisions themselves. This legal authority can help ensure that the person’s financial and property affairs are properly managed and protected.
SUPPORT
A property and financial deputy can provide support to the person they are appointed to represent, as well as their family and other caregivers. This can help ensure that everyone involved is aware of the person’s financial situation and that their needs are being met.
PROTECTION
A property and financial deputy has a duty to act in the best interests of the person they are appointed to represent. This can help ensure that the person’s assets are protected and that their financial affairs are managed in a responsible and ethical manner.
ACCOUNTABILITY
A property and financial deputy is accountable to the Court of Protection and must provide yearly reports on their actions and decisions. This can help ensure that they are acting in the best interests of the person they are appointed to represent and that their actions are transparent and accountable.
EXPERTISE
A property and financial deputy is typically chosen because of their expertise in financial management and property affairs. This can help ensure that the person’s assets are managed effectively and that their financial affairs are optimised to meet their needs.
OVERALL
Overall, a property and financial deputy can provide essential support and protection for someone who lacks capacity to manage their own financial and property affairs. They can help ensure that the person’s assets are managed responsibly and ethically, and that their needs are being met in the best possible way.