TRUST SERVICES
Enduring Power of Attorney
Designating a trusted representative to protect your financial interests if you ever lose the ability to make decisions yourself.
What is an Enduring Power of Attorney?
- An Enduring Power of Attorney (EPA) is a legal document that allows you (the Donor) – while you are still mentally capable – to appoint one or more trusted individuals (or a trustee corporation) (the Attorney(s)) to manage your financial and property affairs in the event that you later become mentally incapacitated.
- As a normal/general Power of Attorney ceases to be effective when you become mentally incapacitated, an EPA is specifically designed to avoid that problem as the legal document “endures” (continues) even after you lose mental capacity.
- For an EPA to have legal effect in Hong Kong, it must follow the statutory requirements and procedures under the Enduring Powers of Attorney Ordinance (Cap. 501) and Enduring Powers of Attorney (Prescribed Form) Regulation (Cap. 501A).
PROCEDURE FOR CREATING AND REGISTERING AN ENDURING POWER OF ATTORNEY (EPA) IN HONG KONG
What are the benefits?
Quick activation & avoids court intervention
Once registered, when the donor loses capacity, the appointed attorney(s) can act without applying to the court to appoint a committee
Control over management
You can designate who manages your affairs in advance
Incapacity planning
Immediate protection upon incapacity
Peace of mind
Ensures your financial affairs are managed when unable to do so yourself
Cost-effective
Setting up an EPA is relatively straightforward and inexpensive compared to court proceedings later
Who should consider an Enduring Power of Attorney?
