Administration of financial guardianships—Scotland
Produced in partnership with Dorothy Kellas of Gilson Gray LLP
Administration of financial guardianships—Scotland

The following Private Client practice note produced in partnership with Dorothy Kellas of Gilson Gray LLP provides comprehensive and up to date legal information covering:

  • Administration of financial guardianships—Scotland
  • Q1. I have been appointed financial guardian—What do I do first?
  • Q2. How do I prepare an inventory?
  • Q3. What goes in the management plan?
  • Q4. The adult owns heritable property–are there additional steps?
  • Q4a What if the property is to be sold?
  • Q5. Do I need to take financial advice?
  • Q6. Can I take steps to mitigate tax?
  • Q7. Are there things to think about before making gifts?
  • Q8. How do I prepare the annual account?
  • More...

This Practice Note answers some Frequently Asked Questions about issues arising in the administration of a financial guardianship.

Please see Office of the Public Guardian (Scotland)—Your duties as financial guardian for summary guidance.

Q1. I have been appointed financial guardian—What do I do first?

You will receive the court interlocutor which should also have been sent by the Sheriff Court directly to the Office of the Public Guardian (OPG) in Scotland. If caution is required you will need to arrange that as a first step. The interlocutor will state the level of caution required. Once you have received the Bond of Caution this should be sent to the OPG (although the insurance company issuing the caution may intimate directly to the OPG for you) who will issue your certificate. This certificate will contain a certificate number and a case reference number. It will also have a red seal appended. This certificate is your authority to formally act and will need to be circulated to any asset holders or any agency with whom you need to interact on behalf of the adult.

Remember, arranging caution falls within incidental financial business for the purposes of Law Society of Scotland rules.

The issue of the certificate also advises of the fee which has to be paid (which can be reimbursed from the adult’s estate) and requests an inventory and management plan (see

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