What happens to my horse if I lose mental capacity to manage my financial affairs?

If you lose the requisite mental capacity to manage your property and financial affairs, it will be necessary for someone to assist you with the ongoing management of your finances. If, whilst you retain mental capacity, you appoint an attorney/attorneys under a Property & Affairs Lasting Power of Attorney (LPA) to support you, then your attorney/attorneys will assist you with the management of your finances subject to any restrictions set out in the LPA. If, however, you lose mental capacity without an Enduring Power of Attorney or an LPA in place, the Court of Protection will appoint a property and affairs deputy/deputies to manage your finances on your behalf.  

Attorneys and deputies are tasked with the management of your personal possessions, which would include your horse. Attorneys and deputies are obligated to ensure that your horse is fed, watered, and cared for. This may involve finding a suitable home for your horse if they are no longer able to remain with you, or in continuing with their current care and training arrangements. All decisions made by attorneys or deputies in respect of your horse must be made in your best interests.  

It is important to consider that a best interests decision made by attorneys and deputies in accordance with the Mental Capacity Act 2005, does not always equate to what is most beneficial to you in a financial context. For example, although at a cost to you, it might be considered beneficial to retain your horse on the basis of the extent to which you derive joy from visiting them, caring for them, watching them compete etc. In formulating a best interest’s decision for you, your attorneys or deputies should consider a number of factors such as the affordability of such arrangements according to your financial circumstances and any wishes expressed by you whilst you retained the requisite mental capacity to make decisions about your financial affairs.  

If you wish for your finances to be managed in a specific way, should you lose the requisite capacity to manage such matters personally, including in respect of the management of your horse, it is essential that you prepare an LPA. You should appoint attorneys who you trust with making decisions regarding your horse’s welfare. When appointing attorneys, you can leave a letter of wishes alongside your LPA, setting out any instructions to your attorneys on how they should care for your horse in the future. This would not be binding on your attorneys however this would provide them with an idea on your wishes and feelings when formulating a best interests decision on your behalf. 

It is important to note that if you do not appoint attorneys under an LPA and you lose the requisite mental capacity to manage your finances, the court will appoint a deputy/deputies for you i.e. you will not have a choice in in respect of this appointment and you will not have the opportunity to set out any specific instructions in the context of your horse’s care.  

If you require any assistance in relation to preparing Lasting Powers of Attorney, or if you have any questions regarding your role as attorney or deputy, then please do not hesitate to contact our Court of Protection Team.