A safeguard for when you need it most
Life’s major challenges such as illness, old age, accident or disability may be expected, but just like rain at the Melbourne Cup, they can sometimes also catch us unawares. A Will can provide protection and planning after you pass away, but what protection do you have during life itself?
Enduring Powers of Attorney allow you to appoint persons you trust (called Attorneys) to make decisions on your behalf about matters such as how you live, how your money is spent and the type of medical treatment you receive, at a time when you may be incapable of doing so yourself. Think of them as umbrellas for life - a safeguard for the future.
In essence, Powers of Attorney provide peace of mind - if something goes wrong, someone you trust will be in charge, not someone you don’t know or whom you don’t like. If you are in hospital following a tragic car accident and your life literally depends on who has control of the life support machine, wouldn’t you want the best person possible in charge? Someone who knows you well and doesn’t go making hasty decisions about saving on the electricity bills… But we digress.
Just as there are different areas of your life, there are different Powers of Attorney:-
- Enduring Power of Attorney (Financial & Personal);
- Enduring Power of Attorney (Medical Treatment);
- Power of Attorney (Supportive)
- Power of Attorney (General).
Financial and medical Powers of Attorney are self-explanatory. A personal Power of Attorney is for matters of lifestyle such as care and services (previously called Guardianship). A supportive Power of Attorney is a new variation in Victoria allowing you to appoint someone to help with communication and information, without giving away decision-making capacity.
You can appoint the same person for each Power of Attorney, or different people depending on their skills. Usually couples appoint each other in the first instance. Regardless of who you appoint, and whatever your age or stage of life, each of us should have these important protections in place.
Alphastream Lawyers offer a specially priced package deal to best assist you plan for your future. Call us to have your Will drafted to your specific instructions, with an Enduring Power of Attorney (Financial & Personal) and Enduring Power of Attorney (Medical Treatment) all for one special price.