What is an Enduring Power of Attorney?
Everyone who makes a Will SHOULD also make an EPA!
An Enduring Power of Attorney (EPA) is a specific type of power of attorney!
It gives a person the right to act for the donor of the power in their financial affairs, and to continue to do so even when if the donor has become mentally incapable. In fact the Enduring Power of Attorney can be worded so that it only comes into effect if this should happen.
Everyone should not only to make a will, but also an EPA.
- You can appoint almost anybody over the age of majority to act as your attorney.
- It is quite common to appoint two people to act as attorneys, either together (so they would both have to sign documents for example), or independently (so either could act on your behalf).
- If one of the attorneys dies, who have to act together, or becomes incapable of acting as an attorney, then the whole EPA ceases.
- It is not possible to appoint successive attorneys, eg “my husband, but on his death my sister”.
- You can however get round this problem by creating two EPAs at the same time, expressing one to be conditional upon the other, eg “my sister shall not have general authority over my affairs unless my husband predeceases me”.
Having made the EPA it does not mean that it has to be used. It should be retained with your will and made available for use if and when it becomes necessary.
You do NOT need to use the services of a solicitor to make an EPA. Indeed they are so straighforward that to do so simply incurs unecessary expense.
You can make an Enduring Power of Attorney Online here for just £27.95 or £39.95 for a pair.
You can download a FREE Guide “Why Make an EPA” here
