All clients should consider making a power of attorney depending on their circumstances. A power of attorney is effective during one’s lifetime, whereas a will takes effect upon death.
Our firm prepares both financial powers of attorney and medical appointments of decision-maker, and in both cases, the powers are enduring such that they last even if you become legally incapable of making your own decisions.
You must have total confidence in the person or people you are appointing as attorneys, and should not proceed with a power of attorney if you have any doubts.
A power of attorney is definitely recommended as you get older, if you intend travelling, or if you have a blended family relationship and have strong views as to whether your current partner or children from a previous or current relationship, are to be the ultimate decision-maker in your life decisions. You cannot delegate your role as a director of a company, and in that case, the company must make it’s own power of attorney.
In September 2015 a new Enduring Power of Attorney for Financial and Personal purposes was established and in March 2018 a new Appointment of Medical Treatment Decision Maker and Appointment of Support Person commenced.
Powers of Attorney can be discussed in greater detail with Malcolm Morris or Jessica Craig of our office.