Prior to October 2007, people could grant an Enduring Power of Attorney (“EPA”) which would allow a trusted person to act for them if they could no longer manage their finances.
Any EPA remains valid, whether or not it has been registered with the OPG, provided that both the donor of the Power and the Attorney/s signed the document prior to 1 October 2007.
If you begin to lose the mental capacity to manage your finances, your Attorney/s are under a duty to register your EPA with the OPG. Whilst the registration is being processed (which will take a minimum of eight weeks), your Attorney/s can use your finances for essentials on your behalf such as food or regular household bills. However, they will not be able to deal with larger transactions such as the sale of your house until the EPA has been registered.
If you already have an EPA in place, or have been appointed as an Attorney under someone else’s EPA, we should be delighted to review it with you and to discuss whether it remains adequate for your needs. We have experience of registering, and revoking, EPAs and can assist Attorneys in this process.