Why would I make an EPA?
It is best to plan for the future when you are in good health and have the mental and physical energy to do so. An EPA allows you to plan for the future. You decide who you would like to look after your affairs and what you would like to happen if you become unable to decide for yourself. It means that you are well prepared if you become ill in the future and your ability to make decisions is impaired. By creating an EPA, you can clearly record your wishes and preferences in relation to your personal and financial affairs. The EPA allows you to give decision-making power to people that you trust and have specifically chosen to act on your behalf in accordance with your wishes and preferences. In this way, you take responsibility, you ensure that your future needs will be met and you keep control of your affairs.
While there are many good reasons for creating an EPA, there may be some circumstances where EPA may not be appropriate for you. Such circumstances may arise where there is no trustworthy person who you feel you can appoint to make the right decisions on your behalf, or where you have substantial assets and there is no person with the appropriate skills to manage the assets. In these situations, it is advisable to seek independent legal advice from a solicitor.