Before you set up an EPA for property

It costs money to set up an EPA because you need to pay for a lawyer or qualified legal executive to witness it.

It costs money to set up an EPA because you need to pay for a lawyer or qualified legal executive to witness it. Working out what you want before meeting with a lawyer can mean the meeting is shorter and therefore cheaper.

You can keep the costs down by making sure you’ve already:

  • talked to the person you want as an attorney and got their agreement
  • agreed on how your money and property will be managed
  • decided whether your attorney must consult with anyone over decisions, and who those people are
  • put together a list of all your assets (house, car, jewellery, investments, furniture, land), including money and any debts
  • decided whether your attorney would look after all your property or only specific things, for example just your bank accounts and investments
  • worked out any special conditions you want your attorney to follow — such as birthday presents for grandchildren or on-going donations to charities
  • decided who would replace your attorney if they died, became bankrupt or mentally incapable
  • decided when you want your EPA to start.

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Category: Power of Attorney POA

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