Where a person has more than £5000 in cash after payment of debts, or has stocks or shares, or has an income which is made up of elements other than payments received from the Benefits Agency, it is usual for the Court to appoint a receiver to look after the day to day finances, such as receiving benefits, pensions, and interest; to pay bills buy clothes and provide extra comforts like flowers, sweets, hairdressing etc.
A formal application to the Court of Protection will have to be made, and the Court may deal with the person's affairs by issuing:
- a First Order appointing a receiver who is authorised to collect all income, for example pensions, benefits, interest, dividends, annuities, etc. rightfully due to the person concerned.
The Order may also provide for the receiver to:
- receive all or part of the person's money held in bank or building society accounts;
- pay any doctor's or Court fees, nursing home or other charges, debts, your out of pocket expenses and any solicitor's costs;
- dispose of a person's furniture and household effects;
- sell the person's property or land, or end a tenancy;
- maintain assurance policies;
- provide accounts of how the person's monies under his or her control have been dealt with;
- carry out or execute any other acts which are necessary in the best interests of the person concerned; and
- provide for documents such as the person's Will and any stock/share certificates to be kept safely.