Why do you need a Power of Attorney?
Life is unpredictable, and part of being an adult is putting plans into place that cover scenarios you may not want to think about. A Power of Attorney appointment is a crucial legal document that allows a trusted family member, friend or associate to step in when needed and manage your affairs.
Powers of Attorney are particularly important if something were to happen to you, and you weren’t able to make decisions that needed to be made. In this situation:
your financial Attorney would be your representative in dealing with solicitors, banks, real estate agents, and all other relevant parties;
your medical Attorney would be your voice in dealing with doctors or caregivers.
Without Powers of Attorney in place, if you lose capacity, your loved ones may have to go through alternative, lengthy Court or Tribunal processes to be legally appointed as your substitute decision-maker.
There is also a chance that a Court or Tribunal will not appoint the person you would have otherwise chosen to make these decisions for you.
Making Powers of Attorney while you are mentally capable is the best way of safeguarding the decision making process for your family down the track.