Enduring Power of Attorney
Enduring power of attorney is similar to the power of attorney denoted in a legal will, where an individual is designated with the responsibility and right to act on your behalf. You could appoint a trusted friend, family member, or legal professional with power of attorney to handle your personal and legal matters in the event that you are unable to do so.
An enduring power of attorney, also commonly referred to as an EPA, is a particular type of power of attorney designation. In this specific type of power of attorney, a person is given the right to act on your behalf regarding your financial affairs and continue to do so if you become mentally incapable.
A regular power of attorney would automatically end when an individual becomes mentally incapacitated, whereas an enduring power of attorney would not. With a large percentage of the population over 60 years of age, enduring power of attorney is a very important legal preparation that everyone should consider implementing.
Your enduring power of attorney appointment can be to anyone you choose over the age of 18 years. It is even possible to ask more than one person to preside over your affairs at one time. The problem with this, is if one of these attorneys passes away or becomes incapacitated, the entire enduring power of attorney agreement is null and void.
Power of attorney as well as enduring power of attorney can be prepared by your legal professional and used only if and when it is necessary or desired.
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