Most people are aware of the need to make a will to set out how their estate is dealt with after their death. Fewer are aware of the availability of an Enduring Power of Attorney which in many ways is the other side of the coin – it allows your assets to be dealt with during your lifetime
An enduring power of attorney is a document whereby you appoint someone to act on your behalf in relation to your assets which remains valid should you be unable to continue to manage them yourself in the future because of mental incapacity.
You may need one:
- if you suffer from a mental or physical illness or have an accident or injury which limits you abilities you will need a trusted person to assist you
- financial institutions will not deal with your friends or family members (even if you are all known to them) without proper authority
- assets may be ‘frozen’ if you cannot deal with them yourself unless someone has authority to do so for you
An Enduring Power of Attorney is set up using a prescribed form. We will talk you about who you wish to appoint and discuss with you the various options contained within the form. We will also explain the obligations of the person appointed.
Controllership is a process whereby someone makes an application to the Office of Care and Protection at the High Court in Belfast to be appointed as Controller and is used in circumstances where someone who does not have and Enduring Power of Attorney looses capacity.