Yes, it is important to have both an enduring power of attorney and enduring guardian in place as they each serve difference purposes.
An enduring power of attorney appoints a person or persons to manage and deal with your financial affairs in the future, including when you have lost the capacity to do so. This includes managing your bank accounts and paying your bills.
This authority does not include the ability to make decisions about your health and lifestyle.
This is where an appointment of an enduring guardian is important. This document serves to appoint someone to make health and lifestyle decisions for you when you lose the capacity to make these decisions yourself. These decisions include where you live and what services you receive. In this document, you can also include specific wishes as to the care you would like to receive.
For example, Jane has been diagnosed with Alzheimer’s disease and is no longer able to manage her affairs. Before her health declined, Jane appointed her husband, John, her attorney and her daughter, Jessica her guardian.
Due to her declining health, Jane needs to be moved to an aged care facility. Jessica as her guardian will have the authority to decide which aged care facility Jane is moved to. John on the other hand will have to authority to pay for the aged care facility from Jane’s funds and/or sell assets to pay for Jane’s expenses if necessary.
Without both an enduring power of attorney and enduring guardian in place, Jane’s move to the aged care facility might be more difficult and may not be in accordance with her wishes.
Accordingly, it is important to have both an enduring power of attorney and enduring guardian appointed to have the peace of mind that your affairs will be taken care of.
Contact our Estate Planning team today to discuss your appointment of power of attorney and enduring guardian today.