Do you have a Lasting Power of Attorney? Do your parents? It really is an important legal document to have, as this story (originally in the Daily Mail) http://www.dailymail.co.uk/money/article-1269290/Lawyers-charged-frail-Alzheimers-couple-pound-44-400.html?printingPage=true) shows.
After Feliks and Rosemary Zakrzewski developed Alzheimer’s disease in 2005, they went to live with their daughter. But that didn’t matter to the Court of Protection. Because they had no Power of Attorney, lawyers were instructed (by the Court of Protection) to look after their finances. The “deputy”, as lawyers are referred to in these instances, charged an incredible £44,400 in fees.
The Zakrewskis’ family could do nothing as the case unfolded, because deputies are only answerable to the client and, in this case, the client was the couple themselves, both of whom had Alzheimer’s and didn’t understand. The solicitor in this case, the Daily Mail reports, ran up charges of just under £19,000 in ten months (charging £200 an hour) and gave the couple’s daughter £70 a week to pay for living costs. After ten months, the couple’s daughter asked the Office of the Public Guardian (which oversees deputies), to look into the case. Deputies’ fees are assessed by the Supreme Court Costs Office. Guidance on Court of Protection costs states that general management costs are ‘unlikely to exceed’ £3,000 a year but it costs more than £1,000 just to have a deputy appointed, and then there will be annual charges.
What’s the best way to avoid such a nightmare happening within your family?
Get a Lasting Power of Attorney drawn up. We can do it for you, guiding you through the process and explaining it all in plain English. Lasting Power of Attorney can refer to your finances or to your welfare, and either type will give you peace of mind for the future. You’ll know that control of your assets and affairs will remain within a group of people of your choosing.
Find read more about the Court of Protection, go to www.thisismoney.co.uk/court
Photo Credit: http://www.flickr.com/photos/livingtrustsbyamy/3883569970/sizes/t/
