While death is not your traditional dinner table topic it is something that needs to be discussed – especially when it comes to ensuring that your estate is dealt with in accordance with your wishes. Once you have determined what you wish to happen with your estate then it is strongly recommended to get this formalised into a Will. This document is the best and only way to ensure that your intentions and wishes are fulfilled.
A Will can cover many different aspects of your estate however it does not come into effect until AFTER you have passed away. So what happens to both yourself and your assets in the event that you are still alive but unable to make decisions for yourself.
This is where an Enduring Power of Attorney steps in.
An Enduring Power of Attorney (“EPOA”) allows you to appoint a trusted friend or family member as an “attorney” to be able to make decisions on your behalf while you are still alive. The EPOA can be tailored to suit your needs for both personal health and financial matters.
A fully signed EPOA means that your appointed attorney is recognised by banking institutions, government departments, health care professionals etc. as being able to make decisions on your behalf, based on the conditions set out in the document.
Having a Will and Enduring Power of Attorney means your wishes are known and trusted parties have been appointment to care for yourself and your estate both BEFORE and AFTER your passing.
For more information please do not hesitate to contact us.