{"id":880,"date":"2022-05-13T11:31:23","date_gmt":"2022-05-13T03:31:23","guid":{"rendered":"https:\/\/seniorclic.hk\/?p=880"},"modified":"2024-07-03T17:04:53","modified_gmt":"2024-07-03T09:04:53","slug":"the-attorneys-authorities-and-restrictions","status":"publish","type":"post","link":"https:\/\/seniorclic.hk\/en\/topics\/health-care\/enduring-power-of-attorney\/the-attorneys-authorities-and-restrictions\/","title":{"rendered":"The attorney(s)’ authorities and restrictions"},"content":{"rendered":"

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Print<\/a><\/div>\n

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<\/span>-<\/span>+<\/span>=<\/span><\/div> [\/et_pb_code][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ admin_label=”Content” module_id=”content” _builder_version=”4.17.3″ _module_preset=”default” custom_padding=”50px||50px||true|false” collapsed=”off” global_colors_info=”{}”][et_pb_row _builder_version=”4.17.3″ _module_preset=”default” custom_padding=”0px||||false|false” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.17.3″ _module_preset=”default” global_colors_info=”{}”][et_pb_post_title author=”off” date=”off” comments=”off” featured_image=”off” _builder_version=”4.17.3″ _module_preset=”default” locked=”on” global_colors_info=”{}”][\/et_pb_post_title][et_pb_text _builder_version=”4.17.3″ _module_preset=”default” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″]<\/p>\n

Before making an EPA, a donor should consider the following matters carefully and seriously:<\/p>\n

    \n
  • the value of the donor\u2019s assets;<\/li>\n
  • the variety of the donor\u2019s assets, e.g. how much of them are in cash, real property, shares in private companies, shares in publicly listed companies, bonds, antiques, jewellery, vehicles, yachts, etc.;\u00a0<\/li>\n
  • how the donor wants the attorneys to manage these assets in case of the donor\u2019s mental incapacity, e.g. to sell part of them, to maintain them to generate rental income or interest, to use part of them for the donor\u2019s daily living, to give part of them as gifts to designated person(s), etc.; and<\/li>\n
  • whether or not the attorneys have to seek professional advice (e.g. for legal or financial aspects) if they intend to enter into a transaction the value of which exceeds a specified amount.<\/li>\n<\/ul>\n

    The donor\u00a0must<\/u><\/strong>:<\/u><\/p>\n

      \n
    • specify what the attorneys\u2019 authority is in dealing with the donor\u2019s particular property or financial affairs. For example, the donor may decide to give his\/her attorneys only power over a particular bank account, or a particular piece of property.<\/li>\n<\/ul>\n

      The donor\u00a0may<\/u><\/strong>:<\/p>\n

        \n
      • place any restrictions he\/she likes on the authority the donor gives to his\/her attorneys in the EPA.<\/li>\n<\/ul>\n

        Please note: Unless the donor includes a restriction preventing it, his\/her attorneys will be able to:<\/p>\n

          \n
        • use any of the donor\u2019s money or property to make any provision which the donor might be expected to make himself\/herself for the needs of the attorneys or the needs of other persons;<\/li>\n
        • use the donor\u2019s money to make gifts, but only for reasonable amounts in relation to the value of the money and property.<\/li>\n<\/ul>\n

          The donor\u00a0must not<\/u><\/strong>:<\/p>\n

            \n
          • give his\/her attorney(s) a general authority over the donor\u2019s property and financial affairs;<\/li>\n
          • give his\/her attorney(s) an authority over other affairs apart from the donor\u2019s property and financial affairs; or<\/li>\n
          • give his\/her attorney(s) an authority to nominate other person to act as an attorney or to exercise the attorney\u2019s authority;<\/li>\n<\/ul>\n

            otherwise the EPA will not be valid.<\/p>\n

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            Before making an EPA, a donor should consider the following matters carefully and seriously:<\/p>\n

            the value of the donor\u2019s assets;
            \nthe variety of the donor\u2019s assets, e.g. how much of them are in cash, real property, shares in private companies, shares in publicly listed companies, bonds, antiques, jewellery, vehicles, yachts, etc.;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","inline_featured_image":false},"categories":[63],"tags":[],"yoast_head":"\nThe attorney(s)' authorities and restrictions - Senior CLIC<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/seniorclic.hk\/en\/topics\/health-care\/enduring-power-of-attorney\/the-attorneys-authorities-and-restrictions\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The attorney(s)' authorities and restrictions - Senior CLIC\" \/>\n<meta property=\"og:description\" content=\"Before making an EPA, a donor should consider the following matters carefully and seriously: the value of the donor\u2019s assets; 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