An Enduring Power of Attorney allows you to choose who can make decisions on your behalf in the event you lose capacity.
What is the difference between an Enduring Power of Attorney and a General Power of Attorney?
An Enduring Power of Attorney is a legal document that appoints a person (or multiple people) to make decisions on your behalf if you become a person with impaired decision-making capacity. An Enduring Power of Attorney is an important aspect of any estate plan.
A General Power of Attorney is a document that operates while you have decision-making capacity and appoints someone to act on your behalf in relation to financial matters if for example, you are overseas or unable to do so. A General Power of Attorney ends if you lose decision-making capacity.
What is impaired decision-making capacity?
The Powers of Attorney Act 2006 (ACT) provides that a person has impaired decision-making capacity if they cannot make decisions in relation to their affairs or do not understand the nature and effect of their decisions. In some circumstances, an independent medical assessment is required to determine whether someone has decision-making capacity.
What powers does my Enduring Power of Attorney have?
In the ACT, you can appoint an Enduring Power of Attorney to make decisions about the following:
Property matters – this includes managing your finances by paying bills and outgoings, accessing bank accounts, and buying, selling, and investing assets on your behalf.
Personal care matters – this includes decisions about where you live, whether you work or study and your daily care needs such as dress and diet.
Health care matters – this includes consenting to and withdrawing medical treatment.
Medical research matters – this includes consenting to your participation in approved medical research or low-risk research.
You can specify in your Enduring Power of Attorney which powers you wish for your attorney to have and give directions and limitations about the exercise of their powers.
Your attorney must agree to act as your attorney by signing an acceptance on your Enduring Power of Attorney document. Your Enduring Power of Attorney will only be effective in relation to attorneys who have accepted their appointment by signing the document.
We offer fixed fees and package deals in relation to Wills and Enduring Powers of Attorney. If you would like to discuss your situation and how we can assist you, please contact us today at (02) 6225 7040 by email info@rmfamilylaw.com.au or get started now online.
Author: Amy Davis