Power of Attorney gives legal authority to someone to act on your behalf should you be unable to act yourself.
They come in handy if you are out of the country or in the event that you are incapacitated due to health reasons.
There are two main types of powers of attorney:
General Power of Attorney
A general power of attorney has effect only while you have mental capacity. The powers given to the attorney can be limited or broad.
Enduring Power of Attorney (EPA)
The difference with an EPA is that it continues to have effect once the donor has lost mental capacity. You cannot appoint an attorney once you have lost mental capacity. The only option for managing someone’s affairs once they have lost mental capacity is to apply to the court for management orders. This is a costly process and can be avoided by having EPAs in place.
There are two types of EPA:
EPA in relation to Property:
An EPA for Property gives the attorney the power to act on your behalf with respect to all the property you own – land, businesses, bank accounts and all other possessions.
EPA in relation to Personal Care & Welfare:
An EPA for Personal Care & Welfare enables your attorney to make legal decisions about your personal care once you have lost mental capacity. For instance they can decide if you need to go into care, what home or hospital you go to or what sort of medical treatment you should have.
Our experienced team can advise you of the most suitable type of Power of Attorney to meet your needs and assist you with getting these in place.