If a person holds assets in Jersey, they may want to make sure that they have made reasonable arrangements to appoint someone to manage those assets in case they lose capacity to the point that they can no longer do it themselves. Often times, these considerations are part of a person’s broader estate planning.
There is currently no way for this person to establish permanent power of attorney for a local Jersey to cover their Jersey resident assets. Instead, the Royal Court will recognize the foreign power of attorney (or an equivalent document such as a guardianship or a proxy) provided the power of attorney is registered with the Royal Court. Once registered, the lawyer appointed under the overseas document has legal authority to deal with the assets in Jersey. This is confirmed by a formal court document issued by the Royal Court and attached to the foreign power of attorney document.
The application for registration of a foreign power of attorney is uncomplicated and is made in chambers via an application called “representation”. This application must be made by a qualified lawyer in Jersey and the following documents must be provided:
- the original (registered) permanent power of attorney (or equivalent document) or a copy of that document officially sealed and notarized by the Royal Court in the foreign jurisdiction that registered the original. If it is customary in the home country for a notary to certify the permanent power of attorney, the notary can provide an official copy for use in Jersey. If the original document is a permanent English power of attorney, the Royal Court will accept a copy of the registered document certified by a lawyer.
- Confirmation of the current value of the asset or assets in Jersey. A bank statement or a stock valuation or the like is sufficient;
- Identification documents of both the donor and the attorney, which are duly certified; and
- a £ 120 treasury receipt representing the stamp duty levied by the Royal Court to register this type of document in Jersey.
If the foreign power of attorney (or an equivalent power of attorney) does not have to be officially registered in the country of origin to be officially valid and used, an affidavit from a lawyer in that jurisdiction is also required to confirm this.
Once the court judgment has been issued, it can be submitted to the Jersey property owner, who can then validly accept the attorney’s instructions.
For more information on this subject, please contact Victoria Grogan or Fiona Lilleyman in Ogier by phone (+44 1 534 514 000) or email ([email protected] or fiona.lilleym[email protected]). The Ogier website can be found at www.ogier.com.
The materials contained on this website are for general informational purposes only and are subject to a disclaimer.
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