Login|Contact Us
Question and Answer

UK Law

Ask an UK Law Question, Get an Answer ASAP!

  • Ask A Question
  • Browse Answers
  • Meet The Experts
  • How JustAnswer Works

what restrictions are there on investments permitted for someone

 

Customer Question

what restrictions are there on investments permitted for someone subject to the court of protection?

 

Optional Information:
System of Law: England-and-Wales

Submitted: 316 days and 17 hours ago.
Category: UK Law
Value: £47
Status: CLOSED
Picture
Expert:  Law Denning replied316 days and 17 hours ago.

-Could you explain your situation a little more?

Customer replied316 days and 17 hours ago.

I am a wealth manager, and one of my clients ( a financial planner) has been asked to deal with the affairs (of a client of a local solicitor) who is subject to a court of protection order.


I have dealt with this situation many years ago, and my memory was that there were certain restrictions on what were acceptable assets that could be held in this sort of portfolio. My memory was that these restrictions were very similar to those of the trustee act, and in simple terms were liquid securities, listed bonds and bond funds. What I was searching for was a list or definition of the acceptable scope or type of investments, so that I could go back to my client with a proposed portfolio. Where would I find that list or definition?


I appreciate that in theory the local solicitor should know this, but they do not have any investment expertise, which is why it has come to us.


Hope this gives enough to answer the question.


Thanks, Charles

Picture
Expert:  Law Denning replied316 days and 17 hours ago.

Thank you. I'm afraid this is outside my sphere of expertise so I will opt out for another expert.

Customer replied316 days and 16 hours ago.

what do i do now?

Picture
Expert:  Law Denning replied316 days and 16 hours ago.

I will put it back on the board and the expert who knows the answer will pick it up for you.Law Denning41095.6231668171

Customer replied316 days and 16 hours ago.

i keep getting asked to rate your answer but cannot see any where where i can do this? or do i not yet rate you as you have not given me an answer, but passed this to someone else?

Customer replied316 days and 16 hours ago.

thanks

Picture
Expert:  UKSolicitorJA replied316 days and 15 hours ago.

I will try and do some research on this and revert

Customer replied316 days and 15 hours ago.

thanks, XXXXX XXXXX to your response. do you have a time frame for your response?

Accepted Answer

Picture
Expert:  UKSolicitorJA replied316 days and 14 hours ago.

There are no specific restrictions as such on the types of investments that can be made, but there are various factors to consider as per this guide: http://www.direct.gov.uk/prod_consum_dg/groups/dg_digitalassets/@dg/@en/@disabled/documents/digitalasset/dg_186486.pdf

Expert TypeSolicitor
Category: UK Law
Pos. Feedback: 89.8 %
Accepts: 1639
Answered: 7/5/2012

Experience: English Solicitor with over 10 years legal experience

Ask this Expert a Question >
 
Tweet

5 Solicitors are Online Right Now

Ask Your Question Now
Uk Law Questions Date Submitted
The Conveyances (written in 1963) relating to both mine & my 5/11/2013
My husband of 7 years moved out 2 weeks ago just after he arranged 5/7/2013
Type your question here.Under English law how much can my severely 5/6/2013
hi uk law can any one please send me the links to the following 4/28/2013
Alleged Libel – UK Law I manage a UK Limited Company and 4/27/2013
Dear Law We are being taken to small claims court for £5k, 4/24/2013
hi , i am lebanese resident and working at jeddah , i was have 4/20/2013
exempt person status 4/19/2013
me and my wife live in uk.my wife decided 4/18/2013
Hi'My wife played an online casino and won 30,000$ however 4/11/2013
RSS
Next 10 >
Ask A Solicitor
Type Your UK Law Question Here...
characters left:

Top UK Law Experts

See More Solicitors

JustAnswer in the News

Nbc
Washington Post
New York Times
Cnn
Learn More

How It Works

  • Ask an Expert
  • Get a Professional Answer
  • Ask Followup Questions
  • 100% Satisfaction Guarantee
Learn More
close
Find Expert answers related to your question.
Sign up using email
We will never post anything without your permission.
Already have an account? Sign in

Ask a Solicitor

Get a Professional Answer. 100% Satisfaction Guaranteed.
73 Solicitors are Online Now
Type Your UK Law Question Here...
characters left:

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

Truste
Contact Us | Terms of Service | Privacy & Security | About Us | Our Network
© 2003-2013 JustAnswer LLC
  • Pearl.com
  • JustAnswer UK
  • JustAnswer Germany
  • JustAnswer Spanish
  • JustAnswer Japan