Enduring Power of Attorney or Lasting Power of Attorney?
What is a Power of Attorney?
A Power of Attorney is a document which appoints people you trust to look after your affairs should you ever need them to in the future. Enduring Powers of Attorney could be made until October 2017 when they were replaced by the new system of Lasting Powers of Attorney. Under the old regime of Enduring Powers of Attorney, you could only appoint attorneys to look after your property and financial affairs. Now there are two types of Lasting Power of Attorney; one for your property and financial affairs and one for your health and welfare.
Are Enduring Powers of Attorney still valid?
If you made an Enduring Power of Attorney before October 2017, don’t worry, it will still be valid. If you have any questions about registering the Enduring Power of Attorney, or if you would like to know if a Lasting Power of Attorney would be more appropriate for you and your family, please contact Hepburn Delaney today.
Registering an Enduring Power of Attorney
If you have an Enduring Power of Attorney for a family member it is important that you register it as soon as they start to lose mental capacity. You must tell the donor (the person who made the Enduring Power of Attorney), their family members and the other attorneys that you intend to register the Enduring Power of Attorney. You must then apply to register the Enduring Power of Attorney and pay a fee. Hepburn Delaney can help you with this process.
Differences between an Enduring Power of Attorney and a Lasting Power of Attorney
The main difference is the registration process. A Lasting Power of Attorney cannot be used until it has been registered with the Office of the Public Guardian. An Enduring Power of Attorney can be used before registration, and the attorney appointed by an Enduring Power of Attorney is only required to register the document with the Office of the Public Guardian once the person they act for has lost (or is losing) the mental capacity to manage their own finances.
For further help, please contact one of our specialist team members at Hepburn Delaney. We are here to help, please call 01442 218090.