An enduring power of attorney is, perhaps, now more than ever, a vital document to have.
An enduring power of attorney is a legal document that allows you to choose people that you trust who can help you with your financial and legal affairs.
The people you name can assist you now if you like, or only if a doctor says you have lost the mental capacity to make financial and legal decisions yourself. You make this choice and specify it in your document.
Although some people, at least initially, do not want anyone having this power while they still have capacity, there are in fact many times where it could be very beneficial to have people you trust who can step in and act for you immediately.
For example, Covid-19 has made it much more difficult and stressful to simply go about our day-to-day lives. And for those people who are more at risk of contracting the virus or suffering complications, simply leaving the house has become dangerous. If you have a professionally-drafted, valid enduring power of attorney, the persons named in that document can act on your behalf.
You could stay safely in your home while the person you appointed as your “attorney” goes to the bank for you. Your attorney could also sign for you at the post office, attend Centrelink and sign paperwork on your behalf, attend to legal documents, deal with Medicare and do all sorts of financial and legal tasks for you.
Further, an enduring power of attorney is also very important if there came a time where you did in fact lose your mental capacity. What if you couldn’t do your banking or sign documents, or make proper financial and legal decisions for yourself, either temporarily or permanently?
No one can automatically step in to help you. And rightly so. It should be your choice while you are still capable of understanding, who should assist you with these important tasks. And this document should be prepared under your instructions without undue influence from others. You should feel comfortable with who you choose to act on your behalf, and trust them completely with your financial and legal affairs.
And because an enduring power of attorney is such a vital and powerful legal document, it is equally vital that you understand the document completely and fully. You should have it explained to you very carefully from an expert, you should ask questions and have them answered correctly and clearly to your satisfaction, and you should always feel in control.
Our expert Will & Estate lawyers at Turner Freeman would be glad to assist you with preparing an enduring power of attorney. We can chat to you over the phone, come to your home, see you in our office (with appropriate precautions and social distancing in place)– whatever makes you feel most comfortable. Because we want to help you – to feel in control now and in the future.
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