Acting as a Financial Deputy on behalf of a vulnerable person is a complex, challenging and time consuming task.  You will no doubt be aware of your moral and financial responsibilities, but, are you aware of your practical obligations? 

Below is a snapshot of some of the practical and annual tasks you need to complete as a Financial Deputy:

1. Completing an annual report to the Office of the Public Guardian.  This report becomes due on the anniversary of your appointment every year where you need to provide a detailed account of how you managed the vulnerable persons estate.  The report includes income and expenditure together with documenting what decisions you made.

2. Obtaining and renewing your Security Bond which becomes payable on the anniversary of your appointment.  It is important that you have a satisfactory Security Bond is place and you cannot carry out your functions as a Deputy without it.

3. Visiting the vulnerable person at least once a year (although it is good practice to visit far more than annually).

4. Completing a state benefit review to ensure all benefits are being claimed correctly.

5. Considering annually whether the vulnerable person needs to complete tax returns and reporting any change in circumstances.

This is a non-exhaustive list of your duties as a Financial Deputy.  If you have concerns regarding your appointment, or that of someone else, please do not hesitate to contact our vulnerable clients department for assistance.