Enduring Power of Attorney (EPOA): Who Qualifies and What You Get
Learn how to appoint someone to manage your affairs if you lose the ability to make your own decisions through an Enduring Power of Attorney.
An Enduring Power of Attorney (EPOA) is a legal arrangement that allows you to choose someone you trust to manage your personal or financial affairs if you are no longer able to do so yourself.
Who it's for
This scheme is for any adult who currently has the mental capacity to make their own decisions.
What you get
You receive legal protection by officially appointing a person to step in and manage your affairs. This ensures that if you become incapacitated, someone you have chosen can handle your responsibilities on your behalf.
What it costs you
There are no government fees mentioned, but you will need to pay legal fees for the professional services required to draft the documents and have them witnessed.
The catch to know
The most important thing to remember is that you must set this up while you are still of sound mind. Once you lose the mental capacity to make decisions, you can no longer create an EPOA.
How to apply
- Decide which person you want to act on your behalf.
- Consult with a legal professional to draft the necessary documents.
- Ensure the documents are properly witnessed according to legal requirements.
- Keep a copy of the completed documents in a safe place.