Investments & Savings – Attorney, Deputy, Trustee or Beneficiary
Introducing our Mogers Drewett Financial Planning team.
Managing your own finances can be a challenge but add to that the responsibility of looking after someone else’s finances as an Attorney, Deputy or Trustee and the pressure can be overwhelming.
Mogers Drewett Financial Planners (MDFP) are authorised and regulated by the Financial Conduct Authority and work alongside our legal teams to provide a truly seamless service that takes into account what you need now and what you are looking to achieve in the future.
Our investment & savings services include:
Trust & Trustee Investments
As a trustee you may act for companies or organisations, including charities, as well as beneficiaries, you are responsible for the funds held within a trust and need to comply with the regulations set out in the Trustee Act 2000 at all times.
Every trust will have its own set of rules, different tax implications and each beneficiary their own needs all of which can vary dramatically. It is therefore, important that trustees have an effective trust investment strategy to ensure the requirements of all those involved are met and regular reviews are in place to ensure trusts remain suitable.
Our team of financial planners at MDFP hold specialist qualifications, including Membership of the Society of Trust & Estate Practitioners and have a great deal of experience in advising trustees.
Financial advice for Attorneys & Deputies
The Court of Protection supervises the financial affairs of people who, for whatever reasons and at whatever stage of life, have lost the mental capacity to manage matters themselves.
Being appointed as an attorney by a friend or family member or as a deputy by the Court to make financial decisions on behalf someone (a donor or protected person), if they lack mental capacity, is a huge responsibility.
As an attorney or deputy, you can be investigated by the Office of Public Guardian (OPG) or Court of Protection to ensure you are meeting your legal obligations and acting in the best interests of the person concerned and so it is important that you fully understand the role and your responsibilities.
Our team of financial planners at MDFP fully understand the duties and responsibilities placed upon Deputies and Attorneys and have a wealth of expertise in this area. Working alongside our legal team as well as other external professional advisers such as accountants we are well placed to provide any financial advice which may be required and help demonstrate that you have met your legal obligations and responsibilities.
Investment after inheritance
A large inheritance can be overwhelming because it imposes a certain responsibility on the recipient to use it wisely. Our team of financial planners offer a free financial review to all beneficiaries with the aim of helping people to make an informed decision about what to do with it.
After reviewing your situation, our team can guide you on the next steps whether that is paying off expensive debt, advising on the best savings accounts to use depending on whether you need access or not, topping up your pension or investing the money for your future.
You generally will not have to pay tax on money you inherit, but other inherited assets—such as securities, retirement accounts, or real estate—can have tax implications and we can also advise you on the best tax efficient strategy moving forward.
Next steps: get in touch
If you are an attorney, deputy, trustee or beneficiary and need financial advice to ensure you are meeting your responsibilities, contact our financial planning team on: 01225 308333 or financialplanning@mogersdrewett.com
Mogers Drewett Financial Planning (MDFP) is a trading style of Centurion Wealth Management which is authorised and regulated by the Financial Conduct Authority (FCA). Registered in England and Wales Number 7001057. Registered Office: Channel Court, 8 Hill Road, Clevedon, Bristol, BS21 7NE
Meet the team
Frequently asked questions
An investment is something you buy or put money into with the aim of receiving a profit. Including shares, property, bonds or assets such as art or jewellery.
Saving is usually putting money aside on a regular basis into cash products, such as a savings account in a bank, or building society.
Investing is when you buy something that you hope will increase in value over time, including stocks, property, or shares. While gains from investing can be greater than savings there is a risk that the value of your investment could go down as well as up.
An Attorney is someone you (the donor) appoint in (for example) a Lasting Power of Attorney (LPA) document that you trust to look after your affairs when you are no longer able to make those decisions for yourself.
A deputy is someone the Court appoints to look after your affairs after you have lost the capacity to make decisions for yourself.
