Power of Attorney and Receivership

Planning for old age, and the possibility of infirmity, is essential but is not as difficult as people seem to believe.

You can have an Enduring Power of Attorney (EPA) to enable family members, friends, or an appropriate professional, to take charge of your finances if you are unable to do so yourself.

Alternatively, if you should become incapable of dealing with your affairs and have not given an EPA, an application to the Court for the appointment of a Receiver must be made. The detailed application process requires the support of a medical opinion as well as notice to appropriate family members. A Receiver must be resident within the Island and is authorised by the Court to deal with a patient’s finances. They must produce annual accounts for the approval of the Court. The Court authorise the fees if a professional acting as Receiver.

As the alternative to an EPA is more involved, and more costly, we recommend that clients consider creating an EPA. We have considerable experience in the making and administration of EPA and Receiverships.