Whether you have owned your business for generations or for a short time the decision to sell isn’t always easy. Once a decision is reached, your thoughts will turn to...
Do you still have an EPA?
You may or may not be aware that the EPA was replaced in 2007 by the Lasting Powers of Attorney (LPA). There are two types of LPA, one dealing with your property and financial affairs and a second dealing with your health and welfare. Having two separate LPAs helps to ensure that you have chosen the most trusted and appropriate people to make decisions for you over specific matters should you lose the mental capacity to make decisions yourself.
What is the difference between an EPA and an LPA?
However, did you know that EPAs only relate to your property and financial affairs? Therefore should you lose mental capacity, any decisions in relation to the care home you might live in or any medical treatment you might receive might not be made by a person you trust to make those decisions for you.
It is recommended that individuals have provisions in place for their health and welfare.
*An EPA executed before the change in the law remains legally valid and can still be used.
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