Although most people are familiar with the concept of Wills, Power of Attorney is often overlooked.
If you lose the capacity to make decisions for yourself, whether it be financial, health or personal decisions, the Public Trustee and/or the Adult Guardian may step in to make those decisions on your behalf.
If you appoint another person such as your partner or a relative under a Power of Attorney, that person can take over the decision making duties and act in your best interests.
You may lose capacity in a few different ways, but the most common ways are in the event of an accident, the onset of mental illness, and loss of capacity through age.
Power of Attorney should be part of an effective estate planning strategy and considered together with a Will. This way, you will have a peace of mind that when something happens to you in the future, your assets are protected.
Contact us to find out more or to arrange a consultation.