Sunday 2 October 2011

What is an Enduring Power of Attorney?

Article by
Sharon Brown
An Enduring Power of Attorney (EPA) could be made prior to October 2007, and enabled a person to choose who they wished to assist them in relation to the financial affairs.

Since October 2007 it has not been possible to prepare new EPA’s, but any that are already in existence are still valid. The change in the law made it possible to produce two types of Lasting Power of Attorney (LPA); one to cover your property and financial affairs and one to cover your health and personal welfare.

An EPA is valid from the date it was signed by the donor and attorneys, and can be used both before and after it has been registered with the Office of the Public Guardian. Whilst you retain mental capacity, it can be used by your attorneys so long as you consent to their actions.

An attorney has a duty to register the document at such time as the donor has lost or is beginning to lose mental capacity. It is at the discretion of each bank or financial organisation whether or not they accept an unregistered EPA.

If you require more detailed advice on EPA’s, acting as an attorney or preparing a new LPA see or call 01992 422128 and ask to speak to a member of the Private Client team. Tel: 01992 422 128

The contents of this article are intended for general information purposes only and shall not be deemed to be, or constitute legal advice. We cannot accept responsibility for any loss as a result of acts or omissions taken in respect of this article.

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