Business and Law

If you’ve not heard yet, you only have a few days left to organise your enduring Power of Attorney. Officially, you have until September 30th to get it in place, at which time EPAs will be replaced by Lasting Powers of Attorney.

If you lose mental capacity because of dementia, you will need someone else to manage your legal, financial and health affairs.

Currently, you can make an ‘Enduring Power of Attorney’, which means a person of your choosing will be able to manage your finances for you, or someone can apply for ‘receivership’ on your behalf.

What is an EPA?
An EPA is a legal process in which you, the ‘donor’, give the legal right to one or more people, known as the ‘attorneys’, to manage your financial affairs and property. This power can come into effect immediately, and has the same status as an ordinary power of attorney. This means that your attorneys can manage part or all of your financial affairs for you, or you can continue to manage them yourself while you are able to and handover responsibility later.

How Do You Get an EPA?
As there’s not much time left, we suggest you approach a good solicitor to organise the forms for you. It’s also worth thinking now who you’d want to act as your attorney(s).

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