Whether due to a sudden accident, temporary illness or chronic disability, your mental capacity could be diminished or lost at any moment. That’s why, no matter your age, fitness or circumstances, it’s important to be prepared for misfortunes with an Enduring Power of Attorney.
This legal document gives you peace of mind knowing that someone you trust will be permitted to handle your financial affairs on your behalf if you no longer can.
At Affinitas Legal, we are here to help you make an enduring Power of Attorney in WA that will protect your and your loved one’s best interests when you need it most. Please call our Estate planning lawyers in Perth to get started.
What is an Enduring Power of Attorney?
A Power of Attorney is a legal document that authorises a person of your choosing to manage your financial and legal matters in the case that you are unable to do so, be it properly or practically.
When this nomination continues to take effect after loss of capacity, it is referred to as an Enduring Power of Attorney. Unlike a Will, which operates only at the time of death, an Enduring Power of Attorney is only effective during your lifetime.
The person you nominate will be permitted to deal with various assets and finances under the document’s terms, including affairs such as purchasing or selling real estate and/or managing bank accounts.
The first step in nominating an Enduring Power of Attorney is to select someone you can trust to make decisions in your best interests. This individual should be unlikely to pass away before you, and willing, capable and available to handle your financial and/or personal affairs if you are unable to.
Note that you can nominate up to two main Attorneys, as well as two substitutes, with various powers – it’s your choice. There is also the possibility of appointing to act jointly with another person to ensure further protection.
Once confident that you have chosen a suitable Attorney, you must draft your terms and sign the form in the presence of an eligible witness.
While it may seem relatively straightforward, you will need to consider various legal questions and use special wording that communicates your instructions effectively. Without professional legal advice, you risk your Enduring Power of Attorney being deemed invalid when it matters most.
Don’t leave it too late
You must execute an Enduring Power of Attorney whilst you still have the capacity, as it isn’t possible to make this nomination afterwards.
We are often blindsided by freak accidents or sudden loss of capacity, and in many circumstances, your family will not be able to deal with your affairs on your behalf without Enduring Power of Attorney or applying to the State Administrative Tribunal for guardianship. The last thing your loved ones need during this emotional time is to have to navigate complex legal applications.
At Affinitas Legal, we offer compassionate and tailored advice on making an Enduring Power of Attorney. Your Estate planning solicitor will guide you through every step of this process so that you can make informed decisions. Get in touch to ensure your affairs will be taken care of as you would’ve wished.
Frequently asked questions
