Urgent Deadline – 1 October 2007!
Deeds of Enduring Power of Attorney to be replaced
by more costly Lasting Powers of Attorney

Why make a Deed of Enduring Power of Attorney?

One day you might find yourself incapable of managing your affairs for reasons of illness, accident etc. To avoid the necessity of an application to the Court of Protection to manage your affairs in such circumstances (which is an expensive and protracted procedure) it is therefore advisable to consider making a Deed of Enduring Power of Attorney.

Pre existing Deeds of Enduring Power of Attorney will continue to remain valid after

1 October 2007 and I understand there is much to commend them in place of the new Lasting Powers of Attorney which are to be introduced on 1 October 2007.

Reasons not to delay

If a Deed of Enduring Power of Attorney is made any time prior to 1 October 2007 it will remain fully valid thereafter.

A Deed of Enduring Power of Attorney is simpler to make and accordingly will be less expensive than a Deed of Lasting Power of Attorney.

A Lasting Power of Attorney will be more complex and costly to set up and will have to be registered with the Court before it can be used.

It will be invalid until it has been certified by a third party that the person signing the Deed is fully capable of managing his affairs and understanding the contents of the Deed.

As is the case with a Deed of Enduring Power of Attorney a Deed of Lasting Power of Attorney will be required to be made in a prescribed (statutory) form and contain relevant information as required of the Mental Capacity Act 2005.

If you would like any further information or a recommendation of a solicitor who would take care of this for you please call me as soon as possible in view of the current short window of opportunity.

Sue Stephens
Tax Manager