Registered Power of Attorney JERSEY

[sumosumo]

Well here's another obstacle on this relentless journey aka Dementia Can anyone help with this one:

I have had mum's PoA registered now for approx 18 months. It has enabled me deal with mum's financial matters without too much hassle. Until now .....

Mum opened one account on the Island (Isle of Man) many years ago and that business decided at some point; to move their HQ to Jersey. Mum's money went with them. I suspect she would have received a letter some years ago to say so but then even if she did, it wouldn't have been of any concern.

I decided I would like the funds to be transferred to a different investment of mums and the account closed. No complicated matter. I sent off the PoA and verification of ID etc. Here's the problem: Jersey say the PoA has no 'cross country recognition' and therefore I cannot get to that money UNLESS I register it in Jersey! I have checked this out with our own Financial Supervision Commission and the equivalent in Jersey and this indeed, would seem to be the law. My point is; my lawyer did not make me aware of this at the time of drawing up the paperwork!

So now I need to be made aware of a reputable lawyer in Jersey or an internet link to the relevant Government department so I can get this registered there and the account closed. I was hoping there may be someone on here to give me a lead.

Presumably, you British/Scottish people would encounter the same hurdle. Beware!! Unless it is only me that didn't know this??!!

Any comments?

 

[Skye]

Yes, we do.

John and I had to have new wills and PoAs when we moved here.

It's strange, I would have thought the legal system would apply over the entire British Isles, but apparently not!

Sorry I can't help.

 

[Margarita]

It's strange, I would have thought the legal system would apply over the entire British Isles, but apparently not!

That because Jersey is class as shore banking .

 

[EcoGeek]

Stupid system

Yes unfortunately Jersey counts as a seperate 'kingdom' to the UK so is under a different set of banking laws. I wasn't aware that the power of attourney didn't apply across there but as I used to work for a bank that would only open accounts for UK residents we had to refuse residents of jersey.

I wouldn't advise pretending to be your mother as that could count as fraud and may affect your power of attourney if it was investigated.

I sympathise the systems put in place don't really make it very easy for us to look after our relatives do they?

Sending hugs
Eco

 

[Tender Face]

First, is it a PoA or a registered EPA?

I would have thought 'Banking Law' covered PoAs and could understand there might be a bit more of a problem with 'offshore' accounts ..... but there might be a bit more power to your elbow if we are talking registered EPA here ...?

I am quite amazed by this .... this seems to infer that to act as an attorney we must have full knowledge of the whereabouts of the HQ of any financial organisation anywhere in the world the donor may have accounts with????? ..... and register the power accordingly in each country or domain???? Surely not? (and I'm not sure you could have any comeback on your lawyer unless you had known and been able to express at the time there were financial matters to be dealt with in Jersey ......?)

My first thought was to suggest you contact the Office of the Public Guardian (for England and Wales) ... then realise if you are in the Isle of Man that might not even be right? Where did you register the power? Or maybe the OPG is still a good starting point to ask the questions and they should have links to their appropriate counterparts in the CI or IOM .....(Tel: 0845 330 2900)

Goodness, good luck, please keep us informed how this get resolved .... Karen, x

 

[sumosumo]

First, is it a PoA or a registered EPA?

Hi

Yes; it is registered with the Courts as stated under Manx law. Believe me; I am flabbergasted because as you rightly say, we are supposed to know the HQs of all investments? I think not.

Thanks so much for your links. I will try the number you have given to progress further. Any further help from anyone else on this one would be much appreciated.

x

 

[Tender Face]

Hi Sumosumo - been wondering about this all day and how you've got on ... (I know, I know I need to get out more!) ...... I wondered if you could get any advice from the British Bankers Association - i.e. British - not necessarily UK?

I found this ... and links from it which made me think Jersey banks may still come under their jurisdiction? Or that CAB Jersey might be able to help you before you start thinking lawyer's fees?

http://www.cab.org.je/index.php?option=com_content&task=view&id=371&Itemid=54

You might be the first, but will surely not be the last to struggle through this particular type of dilemma? Have you tried the AS Legal Helpline?

Love, Karen, x

 

[sumosumo]

Hi Tender Face

Thanks so much for giving my dilemma some thought. I shall investigate this later and get back with the outcome. I phoned the Public Guardian Office on Tuesday but they weren't of much help. They said I should look into how much it is to register but could give me no help into WHO and WHERE to contact for this.

I'll have a look at your links over the next few days.

S

 

[Daffadil]

Hi

I lived and worked in jersey for 13 years and am married to a jersey man. I worked in financial institutes all the time. Firstly is the Financial company a Channel Island branch ie Lloyds TSB (CI) Ltd or UK based? Ask to have copies of the letters instructing the transfer of funds to Jersey and if any authorisation was required from your mum.
The law is completely diffrent in Jersey and the courts hold there meetings in Jersey French. You should be able to ask an Advocate to represent you in jersey to act on your behalf so you can get your POA pushed through the jersey courts. It will cost but at least you can gain access to her monies.

My brother in law lives in Wales now but has POA on my mother in law in jersey. I'm sure I could ask him to recommend someone. We left jersey 16 years ago and the red tape was bad then, i believe its still the same, but a good advocate will sort everything out.

 

[sumosumo]

Thank you so much ... your information is useful!

I have checked letterhead and the REGISTERED office is Jersey address (formally Isle of Man). Regulated by 'The Jersey Financial Services Commission'.

http://www.gov.im/registries/courts/probate/attorney.xml

If you have a look at this link: I am looking for the Jersey equivalent as this would possibly negate any requirement to even use an advocate (potentially much much cheaper!) I learnt this the hard way by recruiting the services of a lawyer on the Island to complete the initial EPoA forms with mum - advocate sent a nice invoice for £80 when clearly, I could have done it for nothing directly through the Courts - exactly the same form! I am thinking there MAY be a similar system in Jersey but I have no idea where to look!

If you think you BiL may have some useful advice I would welcome it.

You are welcome to PM me if that is appropriate.

Thanks again.