A power of attorney is a written document where you appoint a person you trust to make decisions or sign documents for you on your behalf. The most common type is an enduring power of attorney or an EPA for short. This is where a person acts for when you are unable to make decisions for yourself. The person you appoint is referred to as the attorney, hence you are giving all your powers to a person, the attorney, to make decisions on your behalf. A attorney can deal with either your property and possessions, or they can deal with your personal health and well-being or they can deal with both.
The fundamental reason for having an EPA is that life is unpredictable. You may be in a serious accident or be diagnosed with a terminal illness at any stage of your life. If you are incapacitated it is important that someone is able to take care of your property (i.e. mortgage repayments, bills) and make decisions for your well-being. The alternative to not having an EPA is where you need an order from the Family Court, this process can be timely and costly. The money will usually be charged from your account for this process. The best decision is to have a EPA, get in contact Jim Sutherland or David Houston today to discuss it further.