If you correctly completed the documentation for your Enduring Power of Attorney and it was signed before 1st October 2007 then it remains a valid document and can still be used to allow your chosen Attorney to conduct financial and business affairs on your behalf.

Essentially the most important difference between an Enduring Power of Attorney and the newer Lasting Power of Attorney in that an Enduring Power of Attorney confers the authority for your chosen Attorney to solely deal with financial and business matters on your behalf, whereas there are now two types of Lasting Power of Attorney available, giving you the additional option to take out a Health & Welfare Lasting Power of Attorney, as well as a more traditional Lasting Power of Attorney covering financial and business matters. It is entirely your decision whether you chose to set up one or both of the newer Lasting Power of Attorneys.

Another key difference is that should your appointed Attorney or Attorney(s) named within your Enduring Power of Attorney be no longer able to fulfill their required duty, the Enduring Power of Attorney ceases to be valid! Thankfully the newer Lasting Power of Attorney documents allow for replacement Attorneys to be named so that should one or more of your Attorneys be unable to act for you, another nominated “back up” Attorney will be brought forward to act in their place. For this reason, you may wish to set up a Lasting Power of Attorney rather than relying on your Enduring Power of Attorney.

There is also a big difference in the legal duty of your chosen Attorney. Under an Enduring Power of Attorney, your chosen Attorney only has a common law duty to act in your best interest, however under the newer Lasting Power of Attorney documentation, your appointed Attorney has statutory obligations under the Mental Capacity Act Code of Practice meaning that should they not act in your best interest, this could be punishable by law.

Whether you decide to rely on your current Enduring Power of Attorney or upgrade to a Lasting Power of Attorney of either type, it is important to note that, your Enduring Power of Attorney cannot be changed in any way. This means that should you wish to make any changes, you would now need one or both of the newer Lasting Power of Attorney documents.

If you would like to discuss things further, Andrew Douglas Wills & Legal Services are now offering a remote service so that we can continue to offer our expert service to UK residents, whilst observing social distancing and self- isolation policies. What’s more, we are continuing to offer our free initial consultation during this time. Whether you are self-isolating or observing social distancing, we are happy to discuss options for remote legal services, so why not call today?

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