What is Enduring Power of Attorney?
Enduring Power of Attorney means the person nominated has the right to act on your behalf should you lose your mental capacity. There are two versions of Enduring Power of Attorney – “Property“, and "Personal Care and Welfare".
An Enduring Power of Attorney is important in that it assists with making arrangements for the management of your property, assets and welfare if for any reason such as accident, illness or ageing process you become mentally incapable of doing so.
What's the difference between Power of Attorney and Enduring Power of Attorney?
The main difference is that Power of Attorney does not give the person the right to act if you lose your mental capacity.
When should you consider appointing someone as Power of Attorney?
When you make a Will, it could be a good idea to consider asking the lawyer, Public Trust or statutory Trustee company acting for you to prepare an Enduring Power of Attorney as well, especially as an attorney may have to make decisions affecting property in your Will.
A note: you must arrange your Enduring Power of Attorney before you become mentally incapable.
What happens to the appointment under the Power of Attorney when I die?
All types of Power of Attorney cease to have effect immediately upon your death.