I have almost been appointed as a Deputy for my Mother.
Before the appointment is final, I am told by the Court of Protection that I must buy a "Guarantee Bond" with AVIVA Insurance.
This, I think, protects my Mother against any financial loss, if I fail to carry out my Deputyship duties. But I am then held personally liable to AVIVA so that they can recover their money - some insurance!
It sounds ilke I am obliged to use my house/assets as a security to protect my Mother's assets.
Whilst I want to do my best for her, does anyone know how 'extreme' my mis-management needs to be in order that the Guarantee Bond is invoked?
What if I just make an honest judgement that turns out to be a costly investment?
HELP - I cannot affotrd to lose my house in order to keep my mother in hers - THANKS
Before the appointment is final, I am told by the Court of Protection that I must buy a "Guarantee Bond" with AVIVA Insurance.
This, I think, protects my Mother against any financial loss, if I fail to carry out my Deputyship duties. But I am then held personally liable to AVIVA so that they can recover their money - some insurance!
It sounds ilke I am obliged to use my house/assets as a security to protect my Mother's assets.
Whilst I want to do my best for her, does anyone know how 'extreme' my mis-management needs to be in order that the Guarantee Bond is invoked?
What if I just make an honest judgement that turns out to be a costly investment?
HELP - I cannot affotrd to lose my house in order to keep my mother in hers - THANKS