Enduring powers of attorney or eternity?

A client once asked me the cost for an “enduring power of eternity”!  “Rather expensive”, I quipped.  Jokes aside though, there can be some confusion not only over the name but, more importantly, the effect and implications of these documents.

An enduring power of attorney is a legal document by which you, the donor, appoint an attorney to manage your affairs, or make decisions on your behalf, generally if you can’t.

There are two types of enduring powers of attorney: property covering money and other assets and personal care and welfare covering your health and where you live.  Decisions about your health and welfare can only be made on your behalf if you can’t make them.  However, you can choose if you want others to have authority to deal with your money and assets once the document is signed or not until you can’t manage your affairs.

You should think very carefully about who to appoint and whether they can benefit themselves from your money and assets.  It can be a good idea to have more than one property attorney as a check and balance.  Furthermore, ensuring that attorneys are required to consult with, and provide information to, others go some way to keeping people honest. 

An enduring power of attorney document end on death.  It cannot be used to deal with a deceased person’s assets.   That is the role of an executor appointed under a will or an administrator appointed by the High Court.  

To find out more see Elder law.

Disclaimer: The contents of this article are general in nature and are not intended to serve as a substitute for legal advice on a specific matter.  In the absence of such advice no responsibility is accepted by Bryce Williams Law Limited for reliance on any of the information provided in this article.