At OMD Solicitors LLP we can advise in respect of planning for the future. An enduring power of attorney enables you to choose a person (called an “attorney”) to manage your property and affairs in the event of your becoming mentally incapable of doing so. You may choose one attorney or more than one. If you choose more than one, you must decide whether they are to be able to act:
- jointly (that is, they must all act together and cannot act separately), or
- jointly and severally (that is, they can all act together but they can also act separately if they wish).
If you give your attorney(s) general power in relation to all your property and affairs, they will be able to deal with your money or property and may be able to sell your house.
If you do not want your attorney(s) to have such wide powers, you can include any restrictions you like. For example, you can include a restriction that your attorney(s) may not sell your house.
You should also name any person you would like the attorney to consult so that the attorney can have regard to that person’s views as to your wishes and feelings and as to what would be in your best interests.
Unless you put in a restriction preventing it, your attorney(s) will be able to use any of your money or property to benefit themselves or other people by doing what you yourself might be expected to do to provide for their needs.
If you specifically authorise it, your attorney(s) will also be able to use your money to make gifts, but only for reasonable amounts in relation to the value of your money and property and subject to any conditions or restrictions you may impose.