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Should a person have both an EPA and PA?

  • 29-04-2019 7:05pm
    #1
    Spanish Eyes
    Registered Users, Registered Users 2 Posts: 16,059 ✭✭✭✭


    So,

    As I am a little older than many here, just thinking of appointing two trusted nephews as EPA. Fine. OH is same age and is thinking of the same thing. We do not have children.

    Any pitfalls? Should we appoint POA aswell, and/or joint bank accounts for payment of bills etc. Thanks. BTW we are not married.

    It is not an easy thing to think about, but probably should be anyway. You never know.

    Any advice welcome. We will see a solicitor for this but just wanted views.


Comments

  • #2
    hullaballoo
    Administrators, Entertainment Moderators, Social & Fun Moderators, Society & Culture Moderators Posts: 18,774 Admin ✭✭✭✭✭hullaballoo


    No need for a specific POA if you have assigned an EPOA.


  • #3
    Spanish Eyes
    Registered Users, Registered Users 2 Posts: 16,059 ✭✭✭✭Spanish Eyes


    hullaballoo wrote: »
    No need for a specific POA if you have assigned an EPOA.

    Thanks, just somewhere in my brain I thought EPA was different to a straightforward Power of Attorney.

    Does an EPA mean the Court decides when the time comes? And if so does a normal POA lapse in that case?

    It is so confusing! But rest assured we will get legal advice anyway. Just wondering out loud, and appreciate the feedback.


  • #4
    hullaballoo
    Administrators, Entertainment Moderators, Social & Fun Moderators, Society & Culture Moderators Posts: 18,774 Admin ✭✭✭✭✭hullaballoo


    Had drafted a lengthy enough reply and the internet ate it so apologies...

    But they're very different animals. EPOA is generally the go to option to cover your situation. POAs are used in very different contexts to deal with specific assets or legal matters. POAs for example are used as a means to enforce contracts occasionally, in particular by banks of late in commercial loans. Not useful from your perspective.

    Of course it's nuanced and there will be circumstances where your own demands may mean a POA is preferable to an EPOA but that's very case specific which is why it's to your credit that you are seeking professional advice.


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