TIME IS RUNNING OUT! for making your Enduring Power of Attorney
From 1st October 2007, no new Enduring Powers of Attorney can be made. Only those who have already signed an Enduring Power of Attorney will be able to keep and use them.
Enduring Powers of Attorney will be replaced with Lasting Powers of Attorney and Lasting Powers of Attorney have positive and negative sides. On a positive side, it will be possible to appoint an Attorney to act, not only in relation to finances and property, but also health, welfare and end of life decisions. On the negative side, they will be a far more complex document than Enduring Powers of Attorney. They are expected to be at least 25 pages long and must be registered with the Public Guardian before use. It is expected they will cost significantly more than an Enduring Power of Attorney to make. Enduring Powers of Attorney are less complex and can be used in many situations without the involvement of the Court of Protection or the payment of additional fees.
What should you do – don’t wait! If you want the simplicity and ease of Enduring Powers of Attorney act now and make one before it is too late.