Often, we think of the elderly when considering putting enduring powers of attorney in place – but the reality is that everyone should have one.
Having an EPA means you choose upfront who you would like to make decisions on your behalf if you are no longer able to make them for yourself due to mental incapacity and it also allows you to be upfront and decide what your chosen attorney can and can’t do for you.
You can also appoint a secondary attorney to ensure that your wishes are carried out if that person is unable to act on your behalf.
What happens if you don’t have an enduring power of attorney?
If you lose mental capacity and don’t have and EPA in place, your family will need to make an application through the Family Court to be appointed welfare guardian and/or property manager. This is time-consuming and costly and is the last think your family will need at an already stressful time. Without an EPA, your family may struggle to organise simple things like paying your bills or arranging care for you.
A property EPA can come into effect while you still have mental capacity. It can be useful to enable someone to manage your property if you are physically incapacitated, going overseas for an extended period or if you travel a lot.
What’s involved?
Giving another person the power to make decisions for you requires careful consideration but shouldn’t be a daunting process. We can help you decide who the best person might be for the two types of EPA that you might need. We can also explain the benefits and disadvantages of a general EPA.
What should you do?
The first step is to get in touch with us so we can get the ball rolling. A simple email is all that is needed, and we will be in touch to discuss your options.