What is an Enduring Power of Attorney
It is a very sad fact that one in five of us will lose mental capacity at some stage in life. An Enduring Power of Attorney is a document that enables you to give legal authority to a person or
persons whom you trust,
called Attorneys, to manage your
financial affairs on your behalf,
when you are not in a position to
do so yourself, for example
following an accident, stroke or
the onset of dementia.
It is important to remember that the completion of a EPOA in no way
precludes you from dealing with your own affairs for as long as you are able to do so, but if that day should ever come your nominated Attorneys could
take over your affairs easily and quickly without the need to go to court for the appointment of a receiver. Having to go to court can be time consuming and more costly, with additional annual costs to report to the court. Taking out the EPOA now while you have capacity is the smart thing to do.