A power of attorney is a legal device by way of which a person (the donor) gives another specifically appointed person (the attorney) the legal right to take actions on the donor’s behalf.
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We would always advise clients who are putting a Will in place to also execute an Enduring Power of Attorney. An Enduring Power of Attorney (EPA) is a document that is put in place when a person (the Donor) has capacity, wherein they appoint an attorney who will act on their behalf should they lose capacity at a future date. The Donor can bestow general powers on their Attorney whereby they make all their decisions, or they can appoint an Attorney for certain decisions only. All individuals who own and run a business should have an EPA in place and all individuals who are making or amending their Will later in life should also put an EPA in place.
There are new rules and forms governing EPAs since the commencement of the Assisted Decision-Making Act on the 26th of April 2023. We at Lawlor Kiernan would be happy to guide you through the process.