Enduring Power of Attorney

An enduring power of attorney (EPA) enables you to nominate someone who will have authority to make financial decisions for you should you ever be incapacitated physically or mentally.   You retain the right to make the decision  as to when it comes into force.    As any of us is liable without warning to be run over by the proverbial bus, it makes very good sense to have an EPA set up whilst you are fully fit and able to make your own decisions.   Another reason for setting one up now is that after October 2007 EPAs will be superseded by Lasting Powers of Attorney (LPAs) which will also cover decisions on health and welfare such as consent to medical treatment, but which are likely to be more costly and complicated to set up and will have to be registered with the Public Guardianship Office.      An EPA already in existence will however remain in force even after the introduction of LPAs.

See  http://www.guardianship.gov.uk/theservice/enduringpower.htm  which shows you how to set up an EPA and gives appropriate warning that an EPA is a powerful document and you must understand the implications of giving someone authority over your financial affairs.