What Are The Consequences Of Mismanaging Money As An Attorney Or Deputy?

Managing the affairs of a loved one after they lose capacity comes with tremendous responsibility and the need to make best interest decisions on the behalf of another person.

Whether mistakes made by an attorney are deliberate or negligent, they can lead to repercussions ranging from repaying of misappropriated funds to prison sentences.

Recently an attorney was jailed for defalcating funds which had been entrusted to him through a Power of Attorney signed by his aunt. Over the course of three years a staggering £817,000 was stolen and used for personal trips, cars, and loan repayments.

Despite being entrusted by a family member to supervise and take control of her money, the funds were repeatedly used for personal gain, contrary to the principles of being an attorney.

These principles are best defined in the Mental Capacity Act of 2005 whereby ‘An act done, or decision made, under this Act for or on behalf of a person who lacks capacity must be done, or made, in his best interests.’

In 2022 a son was jailed for two years and four months after misusing funds of over £70,000 with Judge Gledhill QC highlighting if the attorney abuses their power, the consequences are very serious.

More recently a man was jailed for stealing approximately £600,000 from his aunt using funds to buy cars and live a lavish lifestyle. This resulted in a prison sentence of five years and six months after care home fee direct debits began to bounce and an investigation ensured.

A rise in attorney’s being held accountable for their misdemeanours when responsible for a vulnerable person’s finances demonstrates that those seeking to exploit the vulnerable will in fact be held accountable.

Caring for a loved one’s financial affairs can be an incredibly demanding job and one not to be taken lightly.

Wilson Browne Solicitors have a dedicated team for all Court of Protection work ranging from deputyship applications, acting as a professional deputy or attorney, care home fees advice and advising existing deputies and attorneys on their roles and responsibilities.

We can offer fixed fee appointments for queries or act long term as a deputy or attorney for your loved one.

If you need any assistant managing your loved ones affairs please do not hesitate to contact our Court of Protection team.