Power of Attorney and Enduring Guardian
Understanding the importance of having a power of attorney and enduring guardian in place is crucial. Life can throw all manner of things at us. Through either accident or illness we may become temporarily or permanently unable to make decisions for ourselves. You may suffer a stroke, illness, or injury, leaving you unable to make decisions. You must name someone to legally manage your affairs.
An Enduring Power of Attorney lets someone decide for you when you cannot.By granting an Enduring Power of Attorney, a representative can conduct your affairs on your behalf according to your wishes.
What does it cover?
An Enduring Power of Attorney generally covers financial and legal matters, including the power to sell property. You can set conditions and restrictions on the decisions your Enduring Power of Attorney makes.
An Enduring Power of Attorney covers crucial financial and legal decisions when you cannot make them.
Who should you appoint as an Enduring Attorney?
In short – someone you trust. The person or persons you appoint is or are making decisions for you while you may be unable or not interested to do so, therefore it needs to be someone you trust. It can, but does not have to be, a professional such as a lawyer or accountant. A relative or friend can fulfil this role, and can be a logical choice when considering who would best know your interests.
You can appoint one or more people, and you can appoint different people for different things. If appointing more than one person, you can appoint them as Joint (have to sign off on things together) or Joint and Several (they can do things independently of each other).
Who you appoint must:
- be at least 18 years old
- be of sound mind, that is, they must also have the capacity to make decisions
- agree to be your Attorney.
You decide if the Power of Attorney starts now or later. It can also be revoked if you choose.
Medical and personal matters – Living Wills or Enduring Guardianship
Use a Living Will or Enduring Guardianship for medical decisions.
Living Wills (also known as Advance Health Directives, Medical Directives or Declarations) allow you to set out in advance decisions about future treatment that you will, or will not, accept if you lack the capacity at the time to consent to it.
An Enduring Guardian can be nominated by you in advance or appointed by the court or a tribunal if you lack legal capacity to make decisions. Enduring Guardians, like Enduring Attorneys, can be subject to restrictions on the power that you grant to them. Enduring Guardians can also be given the power to make decisions about other personal matters such as your long-term living arrangements, and can also cover decisions about medical treatment and decisions about dental, medical or surgical procedures, appropriate long term-care or whether and when a life support machine is switched off.
Contact Whitelaw McDonald today to make the best decision for your family.
Call on (02) 4941 8999 (Newcastle) or (02) 4343 7000 (Central Coast) or Contact Us for an obligation-free consultation.