Tuesday December 12, 2017

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WHO SHOULD SET UP AN EPOA, AND WHEN?

 

Everyone – young and old – should establish an EPOA for both their property and their welfare. And, as you need to do it while you are still mentally capable, you should do it NOW.

Like a will, an EPOA can be revoked, replaced or varied by you at any time before you become mentally incapable.  This should be done in writing and be properly signed and witnessed, and people who have been relying on the EPOA authority need to be notified.

WHO SHOULD YOU APPOINT?

You can appoint any individual as an attorney provided he or she is over 20 years of age, is not a bankrupt and is not mentally incapable.

HOW LONG DOES AN EPOA HAVE EFFECT?

An EPOA ceases to have effect when:

  • The donor, while still mentally capable, revokes the power;
  • The attorney gives notice in writing to either the donor (if still mentally capable) that he or she no longer wishes to act as an attorney;
  • The donor dies;
  • The attorney (or joint attorney) dies, becomes a bankrupt, becomes mentally incapable or otherwise incapable of acting as attorney; or
  • The Court revokes the power.

 



 
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