Your loved one may have signed an Enduring or Lasting Power of Attorney, in which case it is their chosen attorneys who will have the legal authority to make financial decisions on their behalf, but what happens if they haven’t made a valid Enduring or Lasting Power of Attorney?  In these circumstances a deputyship application should be made to the Court of Protection.

For straightforward deputyship applications, a solicitor’s fee is fixed by the Court at £850 plus VAT. However, in more complex cases, these fees increase and will usually be assessed by the Senior Courts Costs Office.  In addition, the following fees will also be payable:-

• assessment of capacity fee charged by the doctor or psychiatrist (anything from £50 to £450);
• £400 Court of Protection application fee;
• annual security bond (a type of insurance policy to protect the finances of the person who lacks capacity) which is set by the Court, but usually a minimum of £200;
• £100 appointment of new deputy fee;
• supervision fee payable to the Office of the Public Guardian. The fee payable depends on the level of supervision required but for general supervision is £320 per annum.

Compare the above costs with the cost of preparing a Lasting Power of Attorney, for which Walker Foster Solicitors currently charge £350 (plus VAT and registration fee of £110), and it’s clear to see that with a little forward planning, significant time and money can be saved.