Benefits of an EPA

Making an enduring power of attorney enables the person (known as the donor) to:

• choose a trusted person (the attorney) to manage his or her property and finances immediately or in the event of loss of capacity
• safeguard their best interests should they lose capacity to make reasoned decisions
• provide for continuity of management of their financial and property affairs, thereby minimising immediate financial hardship, if for any reason they are unable to manage their financial affairs (for example, if a person still has capacity, but due to a physical disability they find it difficult to attend banking institutions, by choosing to have their enduring power of attorney come into effect immediately, their attorney can carry out these tasks for them)
• impose conditions or restrictions on the exercise of the power based on their wishes for the management of their estate
• maintain confidentiality in respect of their financial and property affairs.

If a donor chooses to have their enduring power of attorney take immediate effect, it will not be necessary for the attorney to make an application to the State Administrative Tribunal for an order of legal incapacity, to bring the enduring power of attorney into effect.

Last updated: 25-Aug-2015

[ back to top ]