If someone lacks the ability to make financial decisions, another person, usually a close friend, carer, or relative can complete the deputyship application process. This would grant them the authority to make decisions on behalf of their relative.
However, you need to be at least 18 years old to be appointed as a deputy. Not to mentions, you’ll be asked if you have ever been made bankrupt or had any court judgments pertaining to debt made against you. If you have, this may affect your deputyship application.
It is important to note that the court and the deputy can make decisions pertaining to the person’s property, finances, health, and personal welfare. The court can appoint two or more deputies to act. The person whom the deputy is acting on behalf of is known as the donor.
With deputyship application, you should be ready to part with a fee, including further fees for an assessment if you’re a new deputy. There may be additional costs to incur if the court decided that there needs to be a hearing or that you have to be supervised.
If you’re getting some benefits or are on a low income, you may be exempt from paying the fee or you may only have to make do with part of the fee. It is also possible to ask the court not to charge the fee if paying it would lead to financial hardship on your part.
You should also remember that the court may request the deputy to offer security to cover any loss as a result of the deputy’s behavior in handling their role. This security will in most instances be in the form of a guarantee bond which is a type of insurance policy. It protects the donor against any loss emanating from a deputy’s negligent or irresponsible behavior.
To apply to become a deputy, you will need to fill in a deputyship application from and send it to the court. There is also a form that a medical professional has to fill in after assessing your relative’s capacity in relation to the specific decision.
Remember, you can always make an urgent deputyship application, for instance, if a house sale is going through and there is a risk your relative might lose the buyer, or funds need to be released to pay for vital care or maintenance.