Why make an Enduring Power of Attorney?
Life is unpredictable. If you become ill, are travelling, or simply prefer not to manage your financial affairs, an Enduring Power of Attorney allows you to appoint someone you trust (called your attorney) to step in and act for you. Your attorney can follow your directions and make decisions on your behalf – either temporarily or when you can no longer act personally.
Why Timing Matters
You must have legal capacity to make an Enduring Power of Attorney. This means if you were to lose capacity suddenly – for example, after a serious accident – you could not make one until (and unless) your capacity returns.
What Happens if you don’t have an Enduring Power of Attorney?
If decisions need to be made and you do not have an Enduring Power of Attorney in place, the Queensland Civil and Administrative Tribunal (QCAT) may need to appoint someone to act for you:
- An Administrator for your financial decisions
- A Guardian for your personal and health decisions
The person or organisation appointed may not be the one you would have wanted.
The Benefits of making an Enduring Power of Attorney
By making an Enduring Power of Attorney now, you:
- Choose the person you trust to manage your affairs
- Reduce stress and conflict for your family and friends
- Avoid the cost and complexity of QCAT involvement
An Enduring Power of Attorney is one of the most important documents you will ever sign. At Willwise, we recommend seeking specialist legal advice to ensure your Enduring Power of Attorney is carefully tailored to your needs and circumstances.