If you do not hold Lasting Powers of Attorney documents your nearest and dearest may apply to the Court of Protection to be your Deputy and this is where it can all start to get expensive.
In the 20/21 tax year you must pay:
- A fee to apply to be a Deputy – the application fee is £365.00 per document; you will need 2 documents for Health & Welfare and Property & Financial affairs so £730.00 per individual
- You will also need to pay £485.00 if the court decides your case needs a hearing
- An annual general supervision fee every year, after you have been appointed, of £320.00
You may also have to pay to set up a ‘security bond’ before you can be appointed as a Property and Financial Affairs Deputy. If you need to set up a security bond you will get a letter from the court telling you this. The letter will explain what to do next.
You set up the bond with a security bond provider. The amount you pay depends on the value of the Estate of the person you are a Deputy for and how much of their Estate you control.
The best way to avoid the costs involved is simply to ask us to arrange your Lasting Powers of Attorney documents without delay.
You set up the bond with a security bond provider. The amount you pay depends on the value of the Estate of the person you are a Deputy for and how much of their Estate you control.
The best way to avoid the costs involved is simply to ask us to arrange your Lasting Powers of Attorney documents without delay.
