oonaghw said:
the EPA is only valid once registered with the COP - hence opening a bank account on behalf of a third party (related or not) is not really valid unless the EPA has been registered.
In its "unregistered" state it allowed us to become second signatories in effect. Each bank went through its own process of logging the EPA (their own form of registration?), we had to provide the same identity details as when we would have had we been opening our own accounts. As the account were set up with single signatures required on cheques then any one of us - Aunt, me or other Attorney - could use the account/cheque books and transfer funds, close accounts, set up investments etc. This was critical in the early stages as Aunt was rapidly losing her ability to sign her name even though she remained very much in control of what she wanted to achieve.
All indicted that should the time come for the EPA to be registered with the COP then they be updated and at that point my Aunts name was REMOVED from the signatory list as no longer deemed capable of dealing with her financial affairs.
I therefore would challenge the quote of "not really valid until registered" as it is an extremely powerful document in ANY state but one that we have found invaluable and must have saved not only time but also the costs of using the COP directly.
I think maybe an EPA is slightly different to the older POA and we are comparing different creatures? I do not have any experience of the latter - Dads affairs were much simpler as HSBC recognised the early warning "signature" difficulties and allowed Mum to become a joint account holder while he was syill able to indicate his agreement. Everything else was already held jointly
Phoning the Alzheimers Society helpine or even the COP would probably help to clarify your position. Or refer to your solicitor.
Kriss