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Advice on financial planning, investments & tax

If you are appointed as a financial Deputy you will be responsible for managing someone’s financial affairs.  This means that you must keep their finances under regular review, even if there are arrangements or relationships which were put in place before your appointment.  You cannot simply do nothing. Inherited arrangements or relationships may no longer be in the best interests of the individual now, and as Deputy you may need to make changes to bring those arrangements up to date.

One of the most challenging areas is the need to review assets and investments and consider whether they are the right ones now for the incapacitated person. We do not give financial advice but we can help you choose the right financial adviser.

In order to take proper financial advice you need to understand:

  • The difference between a financial advisor and an investment manager
  • Their different qualifications and the level of expertise you need
  • How their charging structures work and vary
  • The impact of changes on performance and on the value of the investment
  • The importance of cash flow forecasting to make sure funds last

You may also need to appoint specialist experts in areas such as care funding and impaired life annuities.

The role of a Court of Protection Deputy is one that carries significant responsibility.  It is important to take the right advice as taking the wrong advice can prove expensive.  We can help you navigate through these issues to make sure that you do not make expensive mistakes.