Time is running out to make things easier for your family. This is because in October 2007 there is a major change to the law that will make it much more expensive to protect your family.

Before that date you can set up an Enduring Power of Attorney (‘EPA’) with professional support for about £150. Essentially an EPA is a formal document that nominates a trusted individual to deal with your financial affairs and property in the unfortunate event of you being incapacitated, either physically or mentally. An EPA makes things so much easier for your family, and is a very important part of good financial management. We therefore recommend them to all our clients

After October 2007, however, if you haven’t already created an EPA, to achieve the same protection for your family you will need to create a new style “Lasting Power of Attorney” - and these are widely expected to be much more expensive (£750 is the figure we hear mentioned most often).

Therefore, if you don’t have an EPA already, we strongly recommend that you create one before October 2007.

NOTE: Setting up an Enduring Power of Attorney won’t make you rich, but it will save you a worthwhile amount of money and it can make life much easier for your family. Given the limited window of opportunity, we therefore felt it was appropriate to bring it to your attention at this time.