Enduring Power of Attorney

26th April 2022

In the recent past there has been a surge in popularity for putting in place an Enduring Power of Attorney for business people and people with business interests.

An Enduring Power of Attorney (EPA) is a document which allows for business transactions and the affairs of a client to continue if, in the event that owing to a mental disability they are not able to conduct their affairs. With the onset of dementia and mind-altering diseases people are now becoming more acutely aware that they may not always be able to look after their own business affairs.

If that is so, then an Enduring Power of Attorney provides a safe and secure means of managing business affairs and assets even if the client cannot manage their own affairs. An EPA involves dominating an attorney to carry out instructions in the event that there is a loss of rental capacity. It also involves the persons treating the doctor who assists in declaring the person mentally capable to enter into the arrangement and confirms that the person is no longer mentally capable thereby handing over control to the attorney.

The popularity of EPAs is now on the rise because people are more acutely aware of the need to look after their business affairs during their life time. All business people should actively consider entering into an Enduring Power of Attorney so as to ensure that if there is any risk to the integrity of their business affairs and assets owing to mental incapacity that this is secured well in advance.

For further details contact Catriona Savage, Solicitor.