Enduring Power of Attorney

An EPA is a legal process in which you, the donor, give the legal right to one or more people, your attorneys to manage your financial affairs and property. This power can come into effect immediately or you can continue to manage your affairs while you are able and hand over responsibility later.

If you become mentally incapable your attorneys will apply to the Public Guardianship Office. While the registration is being processed they can use your finances for your maintenance until the EPA is registered.

It is sensible to make an enduring Power of Attorney (EPA), as this enables you to select one or more people to act for you now, if you wish, or in the future. If you do not make an EPA and you become mentally incapable the Court of Protection can appoint a receiver for you. Not having an EPA in place can be considerably more expensive and take a longer period of time before money can be accessed.

From the 1st October Lasting Powers of Attorney (LPA) will become law which will enable you to choose a person to make decisions for you regarding your health and welfare as well as your finances. The documents must be registered before use with the Court of Public Guardianship, are more complicated and have a different signing procedure to the EPA. Unfortunately this will certainly make the LPA far more expensive than the current EPA.

EPA's signed before October 1st will continue to be valid after the introduction of LPA's. Many solicitors are advising their clients to get EPA's completed before this date.