When you are appointed as a deputy by the Court of Protection, you will encounter a number of problems in managing the property and affairs of the person who lacks mental capacity. A common struggle is the difficulty of liaising with employees of regulated institutions.
If you have been appointed as a deputy by the Court of Protection to manage the property and affairs of someone who lacks mental capacity, there are a number of responsibilities that you must undertake. One of these is managing that person’s investments.
We blogged recently about the impending stealth tax the government plans to introduce and you will have seen the news stories about delays at probate registries due to IT issues. So, what is the update? Nothing. The probate fees order is still waiting for the final stages to bring it into law and probate registries are still battling with their backlogs.
Whether you are in the market for short-term profit or making long-term investments, adequate planning is certainly a worthwhile (and small) investment of your time and money. If you’ve been savyy enough to successfully invest in crypto-assets, make sure you are smart enough to ensure your loved ones can benefit, should the worst happen.
Both the Guardian and the Independent carried articles earlier this week centred on the statistic that the average rate of Inheritance tax (IHT) paid on the deaths of the very wealthy is 10% while the average rate on more 'modest' estates of between £2 million and £3 million was 20%.