Managing Someone Else's Money
If you care for someone else, there may come a time when you have to manage his or her affairs.
You need to apply to the Court of Protection to act as someone’s deputy and make decisions on their behalf.
Lasting Power of Attorney
- Anyone aged 18 or over with the capacity to do so, can make an LPA and can appoint one or more attorneys to act in their best interest and consider their needs and wishes as far as possible.
- The Office of the Public Guardian (OPG) supports and promotes decision making for those who lack capacity or would like to plan for their future.
- They can advise how to prepare an LPA and it will need to be registered with them before it can be used. There will be a cost of between £150 and £300 for this.
- You should be aware that a Lasting Power of Attorney (LPA) is a powerful and important legal document and you may wish to seek legal advice from a solicitor with experience of preparing them. There are likely to be costs involved for this work.
When choosing an attorney, think about:
- how well the person looks after their own finances
- how well you know them
- if you trust them to make decisions in your best interests
- how happy they will be to make decisions for you.
Page last updated: 01/06/2017