Why A Power Of Attorney Is As Important As A Will
Happy New Year!
We wish you all the best for 2025!
On that note, here is a short bit of helpful advice.
While many people focus on creating a Will, a Power of Attorney is just as crucial in your estate planning processes, if not more so, in certain situations.
As an experienced estate planning lawyer I often say to people, imagine suffering a stroke or another event that leaves you unable to manage your financial affairs. Banks, government departments, and other institutions often won’t recognise your partner or loved ones as having the authority to act on your behalf.
Imagine This Scenario
I often get calls from distressed partners and relatives saying something bad has happened, and they ask, “What do we do now?”
My first question is, “Do they have an Enduring Power of Attorney?”
When the answer is no, the next step is a stressful and time-consuming trip to the government tribunal to have a financial manager appointed. And that person may not necessarily be the one they would have chosen.
Paul Ippolito, Estate Planning Lawyer - Wills, Powers Of Attorney & Enduring Guardianships
The Solution Is To Make An Enduring Power Of Attorney
An Enduring Power of Attorney ensures that someone you trust can step in and manage your financial affairs if you lose capacity. It’s inexpensive, straightforward, and essential for peace of mind.
All it takes is choosing the right person to handle your finances if the need arises.
Don’t wait for the unexpected.
Give us a call today to arrange an appointment to make one, or if you have any questions.
