What is an Enduring Power of Attorney?
An enduring power of attorney is one of the most powerful documents you can ever sign. If you lose the mental ability to look after yourself, either temporarily or permanently, your attorney can have complete control over key domains of your life. Your Enduring Power of Attorney allows you to appoint a trusted person to make decisions for you during your lifetime in the following two areas:
Attorney for personal (including health) matters: Personal matters are relevant to your personal or lifestyle decisions. This would include any decisions about where and with whom you live, the support services that are supplied to you, e.g BlueCare, and health care issues that do not relate to your property or financial affairs.
Attorney for financial matters: your financial matters relate to your property or fiscal decisions, including dealing with your bank accounts, paying bills, making investments, selling your property or carrying on a business.
You can choose to expand or limit the powers of your attorney(s). However, if you do not specify any limits to the powers, then your attorney(s) will have the maximum power that could be given to them.
In Qld you are able to appoint one or more attorneys and to decide how they are to operate, alone, jointly, or successively. If you appoint multiple attorneys and do not specify how they are to operate, then they will be required to operate jointly. It should be noted that no more than four attorneys can operate jointly.
After making an Enduring Power of Attorney, if you die, the Enduring Power of Attorney is automatically revoked and your estate will be administered under your Will, and if you don’t have a Will then the rules of intestacy will apply. If you marry or enter into a civil partnership, the Enduring Power of Attorney is revoked to the extent that it gives power to someone other than your new husband, wife, or civil partner.
If you enter into a de facto relationship, your Enduring Power of Attorney is not automatically revoked and if you wish for your de facto to act as your attorney, you must make a new Enduring Power of Attorney.
Walker Pender Group Lawyers are experts in ensuring your Enduring Power of Attorney is tailored to your needs. There are many things to consider when drafting this document and a ‘one size fits all’ approach is not recommended. Call our office today to organise your Enduring Power of Attorney and give your loved ones peace of mind, knowing that your affairs are in order.