Executing an Enduring Power of Attorney (“EPA”)
Why you should think about an Enduring Power of Attorney (EPA)
When you give someone a power of attorney, it allows them to act on your behalf in certain circumstances.
Executing an Enduring Power of Attorney (“EPA”) is a different matter. In this document you appoint an attorney or attorneys to have full control of all of your affairs in the event that you lose your capacity.
Loss of capacity is the loss of fitness or ability to deal with your affairs.
You can appoint anyone you wish to be your attorney and the attorney must sign the EPA. Obviously you should choose someone you trust!
You must also notify two people that you have executed an Executing an Enduring Power of Attorney (“EPA”) and one of these people must be a relative.
If you do not have an EPA, various issues can arise.
There is no person with absolute authority to make care decisions on your behalf. It would then fall to your next of kin and may lead to indecisiveness or disputes within a family.
If you have an Executing an Enduring Power of Attorney (“EPA”) , it removes all doubt and the attorney can act with confidence.
Losing capacity may limit your access to bank accounts and make it more difficult to pay day to day bills. Your attorney would have this power.
If you own property, the loss of capacity can cause difficulties in upkeep and making commercial decisions.
The powers of the Attorney are far-reaching but you can also limit the powers of the attorney at the time of execution. In general, your attorney would have the power to deal with your legal affairs on your behalf and as they see fit.
An EPA enables you to protect your assets and have someone you trust in your corner during what would be a very stressful and emotional time for those close to you.
Your attorney is someone you appoint when you are well to make the best decisions for your welfare at a time when you can no longer do so.
If you have any questions about making an Enduring Power of Attorney, please do not hesitate to contact Kieran O’Donovan, Solicitor on 061 314948.