Enduring Power of Attorney

Individuals can make arrangements to engage other persons accountable in the event that a loss of mental capacity causes an inability to manage his or her own financial affairs such as in the case of dementia.  A document recognized as Enduring Power of Attorney (“EPOA”) serves this purpose. In simpler words, ‘EPOA’ (Enduring Power of Attorney), is alike an ordinary Power of Attorney, and is a document in which a person who is incapable to manage his/her own matters can appoint a person of own choice to act on the behalf.

An EPOA is dissimilar from a power of attorney which discusses general or specific powers to carry out arrangements on behalf of individuals, where such individuals are unavailable or unable to attend certain matters.  A typical example is a power of attorney authorizing a person in a corporate transaction to execute documents where he is overseas, such power of attorney automatically becomes ineffective when the person deliberating the power loses mental capacity.

An EPOA is prepared at the time when donor of powers has mental capacity to manage his own financial affairs and this document shall remain in effect in the event that the donor afterwards loses mental capacity.

In the EPOA, the donor usually:

• Appoint more than one attorney;
• Restricts on the authority of the attorney(s);
• Specify commencement date for an EPOA’s or an event to activate its commencement;
• For the registration of the EPOA, nominate person(s) to be informed by the attorney before applying to the High Court.

Our competent formation agents are familiarized with using a special power of attorney in order to perform innumerable tasks for the incorporation of a company.