By Lauren Smart

PRIVATE CLIENT EXECUTIVE (GCILEx)

What is an Enduring Power of Attorney?

An Enduring Power of Attorney covers financial matters, similar to a Lasting Power of Attorney for property and financial affairs but it does not cover decisions in respect of health and welfare.   Enduring Powers of Attorney were replaced by Lasting Powers of Attorney, from the 1^st October 2007.  However, if an Enduring Power of Attorney was created prior to the 1^st October 2007 it is still a valid Power of Attorney and can be used.

 

What does the Enduring Power of Attorney enable the Attorney to do?

An Enduring Power of Attorney enables the Attorney to assist with financial decisions for the Donor depending on the Donor’s (that is the person who has made the Power of Attorney)  instructions and preferences when they have capacity.  This could be help with paying bills, managing bank and building society accounts, dealing with property and investments, pensions and any benefits the Donor might receive.

 

When can an Enduring Power of Attorney be used?

As long as the Donor has mental capacity and gives permission for the Attorneys to act, the Attorneys can act without the need for the Enduring Power of Attorney to be registered.  However, registration of the Power at the Office of the Public Guardian must take place when the Donor starts to lose mental capacity.  It is recommended that this process is started as soon as possible, once the donor starts to lose mental capacity.   The difference between the Enduring Power of Attorney and the Lasting Powers of Attorney is the Lasting Powers of Attorney need to be registered with the Office of the Public Guardian before use, regardless of the Donor’s mental capacity status.  A Lasting Power of Attorney can either be registered as soon as it has been made which we would strongly recommend, or by the Attorneys once the Donor no longer has capacity.

 

How do you register an Enduring Power of Attorney?

When the Donor starts to lose mental capacity it is important that the Attorneys register the Enduring Power of Attorney with the Office of the Public Guardian.  An application form must be completed by one or all of the Attorneys.  Notices must also be served on the Donor, along with at least three family members, starting with the closest family members.  The application is then submitted to the Office of the Public Guardian and the fee of £82.00 is required.  The registration process usually takes between six to eight weeks but due to the current climate it is taking significantly longer.

Once the Enduring Power of Attorney has been registered the Attorneys can then step in and act on the Donor’s behalf for all financial matters subject to any restrictions listed in the individual’s Power of Attorney document

 

Our private client department is able to offer assistance with the registration process if required.