What Is An Enduring Power Of Attorney?

An Enduring Power of Attorney is a legal document in which you name someone whom you trust to take control of your financial matters when you are no longer capable of making financial decisions for yourself. Examples of this include senile dementia, Alzheimer’s, coma, serious illness, unforeseen accidents or simply old age. An Enduring Power of Attorney allows the individual you have named to make financial decisions and to carry out your financial affairs for you. The Enduring Power of Attorney ensures that your financial affairs are adequately cared for. There are two types of Enduring Powers of Attorney. One is an “immediate” Enduring Power of Attorney and the other is a “springing” Enduring Power of Attorney. The “immediate” Enduring Power of Attorney is just that; it comes into force and effect upon the signing of it. The “springing” Enduring Power of Attorney does not take force and effect until... Read more