The UK Rules
Property & Financial Affairs

Property and Financial Affairs Attorneys

A lasting power of attorney for property and financial affairs has a specific role. Using this LPA grants authority to chosen people to help with decisions on finances.

As a property and financial affairs attorney, your main duties are helping to look after money matters for the donor.

Your responsibilities can also extend to make, or help the donor to make, decisions about properties (e.g. buying and selling).

For example, you would be assisting with decisions about common fiscal issues such as:

You would be able to use the donor's money to pay for many things. Typical examples include those used for the upkeep of their home and other day to day items (e.g. food).

But, some plans will need discussing with their health and welfare attorney (if they already arranged one). As a rule, they will be decisions that affect the daily routine, living arrangements, or medical care for the donor.

An Example: A power of attorney for property purchases may decide to sell the home of the donor. But, they would need to discuss the matter with a health and welfare attorney to determine where the donor will live after selling it.

The Donor's Money and Property

In most cases, you must keep the finances of the donor separate from those of your own. But, some exceptions apply. Typical examples might include something in joint names, such as a bank account or a home.

Managing the Bank Accounts

There are several steps to follow before you start to manage the donor's accounts. The bank will need to see the original registered lasting power of attorney (LPA). In some cases, you can certify a copy of a lasting power of attorney to meet this requirement.

When managing the donor's bank and building society accounts, you also need to provide proof of:

Note: In some cases, the bank or building society might ask you to provide some extra documents as proof.

Spending Money on Gifts and Donations

The lasting power of attorney will state what you can and cannot spend the donor's money on. So, unless it states otherwise, you will be able to spend their money on:

You must apply for a one-off decision from the Court of Protection for other types of gifts and donations. This rule applies even if the donor has given money to the same people before. It would include:

One of the responsibilities of a property and financial affairs attorney is checking the donor can afford to pay for any gifts or donations. This applies even if they paid for similar things before.

Note: You must make sure they can sustain their care costs before donating their money to someone else. Read further guidance on giving gifts or donations for someone else (as a deputy or an attorney).

Buying and Selling Properties

As a rule, you will need to find a legal adviser to buy or sell the donor's property if:

ALSO IN THIS SECTION

Lasting Power of Attorney | A section explaining the duties, obligations, and the responsibilities of LPA.

Start Acting as an Attorney | Checks you need to make before you start making decisions for the donor.

Making a Will

You can apply to make a statutory will on behalf of someone else if the donor needs to make one but is unable to do it themselves. But, a property and financial affairs lasting power of attorney does not authorise you to change a donor's will.

Important InformationThe courts can order you to repay the donor's money if you make decisions to benefit yourself or misuse it.


Lasting Power of Attorney for Property and Financial Affairs Guide for United Kingdom

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