The enduring power of attorney is a document which empowers another to act on your behalf in your best interests in respect of your financial affairs including banking and property matters. The authority given endures should you lose your faculties, hence is virtually an essential as society ages.
Naturally the person appointed needs to be trustworthy, reliable and competent, able to maintain records and accounts of dealings, transactions made under the authority of the enduring power of attorney.
The enduring power of attorney does not allow the donee or holder to:
- make a will on behalf of the donor;
- make personal, lifestyle or treatment decisions;
- act as company director or secretary on behalf of the donor; or
- delegate the authority.
Enduring Power of Guardianship
The enduring power of guardianship empowers another to make health and lifestyle decisions for you after you have lost decision-making ability.
Advanced Health Directive
An advanced health directive contains your own directions as to future medical treatment.
The foregoing is general information; you should consult your legal advisor for specifics.