Powers of Attorney are valuable tools to arrange your wishes in the form of a ‘living will’ if you can’t do this yourself. Because capacity can be lost for different reasons, and at any age, a UK Power of Attorney gives you peace of mind that a trusted person can advocate for you, if necessary.
What is an Enduring Power of Attorney?
Today, people make a Lasting UK Power of Attorney using firms such as //powerofattorneyonline.co.uk/, but previously people made Enduring Powers of Attorney. EPAs were similar in that they allowed people to appoint a nominated attorney to manage financial and property affairs if they lost capacity.
Many people created EPS before LPAs were brought in. It’s good to know that if you made your Enduring Power of Attorney before October 2007, it is valid and can be used. However, they are less advantageous than Lasting UK Power of Attorney replacements.
Why consider updating your EPA?
EPAs have some restrictions. For example, it can be used immediately upon creation, and your attorney can deal with your finances to a limit while you have capacity. However, if you lose that capacity, the attorney cannot use the EPA until it has been registered with the Office of Public Guardian. Curiously, the EPA cannot be registered while you have mental capacity, and the registration process can take time.
An LPA is registered immediately with the Office of the Public Guardian to ensure it can be used immediately and without further registration delays. This avoids any issues with registration time lags.