We are instructed by A, who is Deputy for his mother, G. G is now in a care home and A would like to sell her property and either invest the proceeds or purchase a further property as an investment for her. A has seen a possible investment property for approximately £400,000. G's current property is worth approximately £500,000.
We advised the client that we would need to make an application to the Court of Protection for an order for sale of the property and purchase of a subsequent property and he would also need to obtain independent financial advice and a valuation report carried out by a surveyor.
G is almost 83 years old and has Alzheimer's. We need to demonstrate to the Court that G's best interests have been taken into account in relation to her health and life expectancy and also that A, as her Deputy, has taken proper advice in relation to any decision taken in investing the funds following the sale.
At present, we are awaiting the surveyor's report and we will then proceed with the application to Court.