Power of Attorney
A Power of Attorney is an important part of estate planning, ensuring that the people you trust most are looking after your affairs. The person you appoint as your attorney will have the power, on your behalf, to do anything legally or financially that you can do. This includes buying and selling real estate, dealing with bank accounts and financial institutions and signing nursing home or other contracts. You can decide when you want the power of attorney to commence and whether you require any restrictions to be placed on your attorney.
Appointing an enduring guardian ensures that, if you are unable to make your own decisions, people you trust and who understand your needs will have the legal power to make lifestyle, medical and other personal decisions on your behalf. This can include decisions relating to where you live or what medical treatment you receive.
If you have not nominated an attorney or guardian then, if you become ill or disabled and can no longer look after your affairs, the Guardianship Division of the NSW Civil &
Administrative Tribunal may appoint a guardian or financial manager to look after you and your affairs.
If you have strong opinions on what medical treatment you would like to receive in certain circumstances, you may also wish to create a “living will” also known as an advanced care directive.