Appointing An Enduring Power Of Attorney: A Practical Guide

 

Do you ever think about what happens to everyone you care about if something unthinkable happens to you? Have you ever thought about what will happen if you suddenly find yourself in a situation where you cannot make decisions? Well, it’s a great idea to prepare ahead for a time when you might require help handling your affairs. And, setting up an enduring power of attorney in Cork in place can give you peace of mind.

Planning for the future can be very challenging as no one knows what the future holds. While most people have a will in place, very few people will make provisions for someone they trust to make important decisions when they are not able to. To ease some of your worries, you might want to consider arranging an enduring power of attorney.This way, you can give someone reliable the authority to make financial decisions on your behalf.

Here’s everything you need to know about ensuring your personal affairs are in order.

What Is An Enduring Power Of Attorney?

An enduring power of attorney or EPA is a written legal document that enables a person to appoint someone on their behalf to look after your affairs in the future in the event they become mentally incapacitated. An EPA operates only when you are incapable of making your own decisions and have been registered. The document will lie dormant until that point in the future.

Why Should You Consider An Enduring Power Of Attorney In Cork?

Even though life expectancy is increasing, so is the prevalence of Alzheimer’s, Dementia, and other mental diseases. These illnesses can often be progressive, chronic, and traumatic for families. Having an enduring power of attorney in Cork will ease the burden that families might experience if their loved one becomes mentally incapable. Setting up an EPA gives you the comfort of knowing that if something unthinkable happens to you, someone you trust has the legal authority to make the decisions that need to be made.

Who Can Choose An EPA?

Anyone who is at least 18 years old can make this decision about having an EPA. You need to have the capability of understanding the nature and effect of the enduring power of attorney. A common misconception is that EPA only applies to elderly patients. However, that’s not the case. It is also suitable for situations like psychosis, brain injury, or other physical and/or mental dysfunction that may have an effect on a person’s ability to manage their own affairs.

Bottom-Line:

The decision to sign a document like an EPA requires careful consideration and must be discussed with professional solicitors. So, it is best to seek expert legal advice from reliable law firms in Cork. Your solicitor can guide you through the process of EPA!