What Is An Enduring Power Of Attorney?
An Enduring Power of Attorney is a legal document which enables a family member or close friend to look after both your person and financial affairs in the event that for any reason you lose your mental capacity in the future. An Enduring power of attorney is only valid or effective if you lose your mental capacity at some future point in time. An enduring power of attorney can significantly overcome the hurdles and problems your family could face when trying to deal with your affairs should you become incapable. In the event that you lose your mental capacity without an enduring power of attorney, the alternative is for you to be made a "Ward of Court" by the High Court. This is a court based process and can be stressful, time consuming and expensive.
Unfortunately there is often little warning before someone suffers a mental incapacity. This can have a devastating effect on the person, family and friends. By signing an Enduring Power of Attorney you and your family will have peace of mind and security knowing that someone you trust will look after your property and affairs.
The person you appoint to be your attorney can manage all your financial affairs such as your bank accounts and pension or you can restrict what your attorney can and can’t do.
Why sign an Enduring Power of Attorney?
- Peace of mind – you get to decide who looks after your property and affairs in the event that you become unable to do so due to a mental incapacity.
- Security – you get to decide who looks after you.
- Cost – you will not have to be made a Ward of Court and you will avoid the costs of an expensive application to the High Court.