Enduring Powers of Attorney - Hot Topics Q&A

Q. I am a married 75 year old retired doctor. When browsing through a money magazine it mentioned that many people do not have correct wills, but even more do not have an Enduring power of Attorney. It did not then explain what this is. What is an Enduring power of Attorney?

A. This is a little used arrangement to look after your affairs if you become incapable of doing so during your lifetime. It is known as an ‘Enduring Power of Attorney’ which you can set up now but will not be invoked until such time as it may be needed.

Inability to make decisions or take action may simply result from the fact you cannot be present to sign documents. However, it may result from serious illness or mental incapacity.

If you become mentally incapable of dealing with your affairs an application would need to be made to the Court of Protection to deal with your financial matters. This can prove costly, create substantial delays and there is no guarantee your affairs will be handled in the way that you would wish.

The solution to this is to appoint an attorney to safeguard your interests and act on your behalf if necessary.

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