For those of you that have got family trusts I suggest you read the attached article about the problems with enduring power of attorney – it was certainly news to me.Trust POA .
With the generation of baby boomers now turning 70, the question of how long they will be able to fill the role as the settlor of a trust becomes increasingly important. As you will see in the attached article a court has recently ruled that an EPA does not give the attorney the power to act for a trust if a trustee is mentally incapacitated. As the law stands at present it is necessary to make an application to the court to remove that person as a trustee which can be an expensive process.
Hopefully the bill currently before Parliament defining the future of family trusts will pave the way for simplifying this process.