The Office of the Public Guardian (OPG) has published investment guidance for attorneys appointed under a lasting power of attorney (LPA) or an enduring power of attorney (EPA).
It sets out the principles to consider when making investments for a person in England and Wales who does not have mental capacity.
It includes the following useful advice:
- You cannot do whatever you like with the person’s money;
- You must support the person to make decisions themselves where possible;
- You must make your decisions based on what is now in the person’s best interests, while trying to balance their wishes; and
- Your decisions should be based on the person’s preferences and beliefs.
In addition, the UK Regulators Network has published a guide to help staff in financial services and utility companies to act more consistently when they see powers of attorney and deputy court orders.
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This guide is for: attorneys appointed under a lasting power of attorney (LPA) for property and affairs, or an enduring power of attorney (EPA) deputies appointed by the Court of Protection (the court) to manage the property and affairs of someone who lacks mental capacity to make decisions