Powers Of Attorney

The Inevitable! (Cont...)

Can I put restrictions on the Power my Attorneys have?

Yes. It is possible to limit the power so that, for example, your Attorney may only act when you are unable to do so. Alternatively you may specify that your Attorney may only deal with certain types of property. Without any restrictions, your Attorney is free to act immediately and without limitation in relation to all your property and affairs. The power is therefore potentially very wide ranging. Your Attorney is, however, bound to act in your interests in the way in which the power is exercised. Your Attorney may make gifts on your behalf, but only in so far as you might be expected to make those gifts.

Does my Attorney get paid?

Your Attorney can recover out of pocket expenses for the work undertaken.

What happens if I become mentally incapable?

• Your Attorney must register the EPA with the Court of Protection which is responsible for overseeing the affairs of people who cannot manage for themselves because of mental incapacity.
• Your Attorney must notify you and other family members in writing before registering the EPA, so you will have the chance to object if you feel you are able and are not ready to give up control of your affairs.

Can I change my mind after I have appointed an Attorney?

Yes. You can cancel the Power at any time until it is registered with the Court. So if you fall out with your Attorneys, or have doubts about them you can simply revoke the document.

What happens if I don't make an EPA and become mentally incapable?

The Court of Protection will appoint someone called a Receiver to deal with your affairs and protect your property. The Receiver is usually a close relative but a Solicitor can also be appointed. Receivership is a more costly and long drawn out procedure than acting under an EPA. The Court takes a more active roll in the administration of a Receivership, all of which leads to delays and increased costs.

How much will it cost?

At the current time our charges for preparing a single EPA where you call to see us are £100.00 plus V.A.T. If we have to travel to see you, which we will gladly do, our costs will reflect the time involved.

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The articles on legal topics published in these pages are for interest only and are necessarily general in their terms. You should not act (or refrain from acting) on the basis of the information given without specific advice, as the principles and laws concerned may change, and their application will vary according to the particular circumstances.