Yes, you do, if you want to choose the person best able to deal with your property and affairs on your behalf, if you become no longer capable of dealing with them yourself. An Enduring Power of Attorney (EPA) is arguably more important than a Will, as it will ensure that a trusted individual is able to protect your financial position by managing your affairs in your best interests, during your lifetime, if you become unable to manage your finances yourself.
You may choose one person (or several people) you trust, to act as your Attorney, and you can give them general powers to manage your property and finances, or you can limit the power in any way you choose. For example, you may allow your attorney to manage your bank accounts, but specify that they do not have the power to sell certain sentimental items, that you may wish to pass on to your loved ones, in your Estate.
With your authority, an Attorney can:
- Assist with the payment of Nursing Home fees from your account
- Pay Utility Bills and withdraw cash for your living expenses
- Buy or sell shares or property
The Attorney’s powers relate to property and financial matters only – they do not have any other powers over you ! They can’t decide where you live or what medical treatment or care you receive.
It’s essential that you have ‘mental capacity’ to make an EPA. This means that you must be able to understand what an EPA is and what making one means. To be lawful, the EPA must be in the exact Form prescribed by the Enduring Power of Attorney Regulations (NI) 1989. The Form must be executed (i.e. made and signed by the maker as well as the witnesses) in the correct way otherwise it may not be valid or it may not operate in the way that you wish. It is therefore very important to seek advice from a Solicitor who specialises in this area of law. Your Solicitor will keep the original EPA safe, so that it is available if required in the future.
If for any reason you become incapable of handling your own affairs, your Attorney would register the EPA with the Office of Care and Protection (OCP), which is part of the court system in Northern Ireland. Without an EPA, someone would have to apply to become a controller, which has similar powers to an Attorney, but it is a more time-consuming and expensive process. The Controller would be a person chosen by the Court, and would have to pay annual fees and submit reports to the OCP. Making an EPA now can make things easier for the people close to you in the future.
Talking about EPAs with your family or close friends can be a good way to think about what you want for the future. It will also help them to know and understand your wishes and preferences.
It can be very reassuring to know that, if you are unable to make a decision for yourself in the future, someone you have chosen and trust will make that decision for you, and will act in your best interests.
Nikki McConnell is a Partner at Worthingtons Solicitors who regularly advises on wills and probate matters, including Enduring Powers of Attorney. If you have such a query, please do not hesitate to contact Nikki and her experienced Wills and Probate Team on 028 9181 1538 or e-mail at [email protected]
028 9181 1538 