Discretionary Fund Management

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Following guidance and suggested wording issued by the Office of the Public Guardian with regards to Discretionary Fund Management (DFM), we looked at this in great detail and continued to review the situation. WillPack along with a number of other organisations took the decision not include the instruction due to uncertainty around the issue. Having taken further legal and professional advice after talking to a number of our IFA’s, we will now be issuing a new LPA instruction form to include the DFM instruction as a yes or no option. However, caution will need to be taken as The Office of the Public Guardian cannot guarantee that the bank/ organisation will accept the suggested wording and it is advisable that the donor contacts the bank/ discretionary investment manager to confirm in writing that they will accept the wording; or they seek their own legal advice as appropriate before the LPA…

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