There are two kinds of EPA:
- EPA for your personal care and welfare.
- EPA specific to your property.
You can choose to have one or both.
An EPA lets you appoint a trusted person as your attorney to make decisions about your property, affairs and personal welfare when you can’t. Not even your spouse or partner can automatically act on your behalf without the legal appointment.
You can also appoint an organisation such as Trustees Executors as your property attorney which is beneficial if you want an impartial professional to make these important decisions for you.
There is a lot to consider before setting up your EPA and it’s important you get the right advice before starting. If you lose the capacity to make decisions for yourself your loved ones would need to get a court order which can be a stressful and drawn-out process.
A little planning now goes a long way. You can read more about EPAs here.