Court Of Protection

[bednobs]

At the risk of being told to "google it" like last time, i was wondering if anyone can explain to me why if someone is appointed a receiver in the court of protection for someone, they have to give over lots of money as security. Is it the appointed persons money, or the other persons money? How does the court set the amount?

[april1693]

Hi bednobs, I'm not sure what you mean by receiver, but I was appointed by the office of care and protection to deal with my elderly aunts finances (paying nursing home fees, clothes, comforts etc). The court didn't take any money, however every year I had to present accounts, receipts etc and pay a fee (from my aunts funds) for the privilege. My aunt also had to pay insurance ( about £90-£100) every year in case I did a runner!

[atalanta]

My brother and I were appointed deputies by the court of protection to look after our father's affairs. We had to pay a Bond every year. This came to £2,000, paid out of our father's money. The level of the bond depends on the amount of money which is being looked after. The company which issues the Bond would have to pay up if a deputy were to embezzle any of the money concerned.

[april1693]

That's right Atlanta, my aunt owned no property and as she was disabled from birth had no assets other than a current account with about £10,000 in it, thus the nominal bond of £98!