Bond POA

[jelba]

Does the bond get renewed each year as my expires soon thanks

 

[Saffie]

As far as I am aware there is no Bond for power of attourney so presumably you mean the Deputyship bond. I would read what is written on the bond itself as in some cases I have gathered from here it has to be renewed annually but in my case it stated that it was a once only payment. It probably depends on the amount covered by the bond, i.e.the extent of the estate.

 

[Kevinl]

Sorry but I don't understand the question either, a Power of Attorney Bond? New one on me but I may have missed something.
K

 

[jelba]

It is my deputy bond just went on dbs website and looked at there faq mine looks like its annualy I give them a ring over the next few days to double check as I always like to stay a step forwards with it all

 

[southlucia]

My deputy bond is renewed annually. I receive the bond and issue for payment each year. You don't have to do anything until you receive it

 

[care2share]

It is my deputy bond just went on dbs website and looked at there faq mine looks like its annualy I give them a ring over the next few days to double check as I always like to stay a step forwards with it all

My bond is £1000 annually.

 

[Saffie]

I wonder why mine was a once only payment. It was paid when the Deputyship was approved and stated on it that the initial bond payment was complete and I never had any further demands during the 3 years of Deputyship.

 

[nitram]

"I wonder why mine was a once only payment."

Small estate?
See Q3
https://www.deputybondservices.co.uk/FAQs.aspx

 

[Saffie]

"I wonder why mine was a once only payment."

Small estate?
See Q3
https://www.deputybondservices.co.uk/FAQs.aspx[/QUOTE

Yes, that's what I thought was the likely reason and mentioned in my original reply here.
It probably depends on the amount covered by the bond, i.e.the extent of the estate.
Of course, being a spouse meant that house was discounted and half the capital so definitely a 'small estate'!

 

[Delphie]

My deputy bond is renewed annually. I receive the bond and issue for payment each year. You don't have to do anything until you receive it

Same here.

To be honest, I forget all about it until I get the annual request for payment, then deal with it the moment it comes. Takes about 5 minutes out of my year.

 

[jelba]

Thanks for all the advice no need to ring them now I just wait for it to come can pay by card or does it have to be a cheque

 

[canary]

I think I paid last time by card.
Dont forget that it comes out of the finances of the person whose money you are looking after - not yours.

 

[jelba]

The bond expires on jan 19th will I recicve the bond and payment before it expires for reniewal thanks

 

[Delphie]

Hi again jelba.

I think you should've had a request for payment by now, so it might be an idea to get in touch with them to clarify what needs to happen and when. Christmas post might've impacted on schedules.

 

[Delphie]

P.S. If you have a card ready, you can make the payment over the phone.

 

[jelba]

Rang them in post today going to pay with card when it comes