Son given authority to gift himself £6 million by Court of Protection
Court of Protection
Sometimes an individual may lack the capacity to prepare powers of attorney and make decisions about their financial affairs. In this situation, an individual would have to apply to the Court of Protection, to be appointed as deputy for the persona lacking capacity.
Our legal specialists have many years’ experience advising and acting for such individuals. We have a wealth of experience in applications to the Court of Protection for an individual to be appointed to act on behalf of the vulnerable person.
Why do I need to apply to the Court of Protection?
If someone is lacking mental capacity, they will not be able to manage their financial affairs and will need someone to manage these on their behalf. If they do not have a power of attorney in place, you will need to apply to the Court of Protection to be appointed as their deputy, via a court order.
What is a deputy?
A deputy is responsible for looking after the financial affairs of the incapacitated person. This will include arranging for spending money to be sent, paying care home fees/nursing fees and taking control of money coming in, such as pension and benefit entitlements.
Who can be a deputy?
Technically anyone can be a deputy, such as a family member or close friend, as long as they are over 16 years of age.
If the individual lacking capacity doesn’t have any family members or close friends that are willing to act as deputy or cannot act as deputy, it is possible to appoint a professional deputy, such as Brachers Trust Corporation Limited.
If you wish to discuss any Court of Protection matters or powers of attorney, please do contact our specialist team.
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