Enduring Power of Attorney

The attorney

The prime objective of an EPA is to allow the donor to authorize an attorney to deal with his/her financial assets. It is therefore very important to choose the right attorney.

An attorney must:

have attained the age of 18 years;
not be bankrupt; and
be mentally capable
or
a trust corporation can be the attorney

More than one attorney

The donor may appoint more than one attorney so that the attorneys may assist or monitor each other. The donor is free to do so as long as the attorneys are appointed to act “jointly” or “jointly and severally”.

The differences between “jointly” and “jointly and severally”:

Jointly	Jointly and severally
The attorneys have to act together and cannot act separately.	The attorneys can act together but also separately if they wish.
A decision made by any one of the attorneys alone will not be valid.	Any one of the attorneys will be able to make a decision.
The attorneys have to make decisions in respect of the donor’s assets on agreed terms.	The attorneys do not have to make decisions in respect of the donor’s assets on agreed terms.
Less flexibility for any one attorney to exercise his/her power, but can prevent one attorney from abusing his/her power.	More flexibility for any one attorney to exercise his/her power, but easier for one attorney to abuse his/her power.
On the bankruptcy or death of any one of the attorneys, the power of attorney becomes revoked under the law.	On the bankruptcy or death of any one of the attorneys, the other attorney(s) may still execute the enduring power of attorney.