by: Dr June Lian, Desiree H.
What is an Enduring Power of Attorney? When should I be concerned about it?
An Enduring Power of Attorney (EPA) refers to the authorisation of others to manage your asset should you unfortunately lose mental capacity. Appointment of an EPA can only be completed with the presence of a lawyer who is usually a solicitor and a medical practitioner when the donor is still mentally sound and able to sign the official registration form.
Regardless of the existence of a general power of attorney, it is one’s best interest to apply for registration of the instrument creating an enduring power as soon as possible once there is a substantial belief that one may lose mental capacity due to illness or accident.
How long will an Enduring Power of Attorney last? Can it be changed after the appointment?
An EPA can be revoked when the donor restores mental capacity, dies or requests to revoke the power when he/she is still mentally capable. The court also has the power to revoke an EPA if the interests of the donor require so, or in order to vary the power on the application of an interested party.
What are the benefits of appointing an EPA? Where can I file one?
Reports from the Hong Kong Law Reform Commission and other international studies have shown that, through utilizing EPA, the donor may reap the following benefits:
- avoid complex and distressing court proceedings
- enjoy an effective and inexpensive way of administering personal properties
- alleviate the difficulties and pressure towards family members in managing personal affairs.
Here at LHC we have several senior solicitors and notaries public that have extensive knowledge in this increasingly important area of law. We can guide you through the tough process of setting up an EPA and fulfill all the required legal procedures like signatures and witnesses with ease and speed.
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