(07) 3219 3830
Room 12, 1644 Logan Road, Mt Gravatt QLD 4122
An enduring power of attorney (EPA) is a legal document that allows an individual (the ‘principal’) to appoint someone else (the ‘attorney’) the power to make financial and personal decisions on their behalf. In relation to financial decisions, the commencement of this decision making power is determined by the principal. For example, the principal may wish for the attorney to begin making financial decisions immediately or perhaps only once they lose capacity. Personal decisions will only commence once the principal loses capacity. You are also able to place limitations on their decision making power. It is important to note that the execution of an EPA must be completed prior to an individual losing capacity.
The purpose of an EPA is to allow the attorney to make decisions on behalf of the principal when they are unable to make decisions themselves. An example of this may be that the principal is overseas however a decision needs to be made in relation to the sale of some property. The principal may suffer a serious injury that results in a disability therefore preventing them from making decisions. Perhaps they may be too ill to make decisions about where they are going to reside or the medical treatment they require.
People who provide someone with an EPA can have peace of mind that their wishes will be fulfilled, even if they lose the capacity to make decisions themselves. The person that you provide the power to make financial and personal decisions on your behalf should be someone that you trust and who understands your wishes.
The creation of an EPA is just as important as a Will. When it comes to drafting your EPA, we would recommend that consult with one of our team members at Hall & Co Solicitors. We will provide you with expert advice on the process and ensure that your attorney has the appropriate authority to fulfil your wishes.