An Enduring Power of Attorney is a document by which you appoint someone to sign your name legally, even if you become incapacitated. Your attorney can do financial things on your behalf that they could not otherwise do. Such things include: operate your bank account for you, pay your bills, arrange insurance for you, or even sell your house for you. You can, of course, still do these things yourself.
You can revoke a Power of Attorney at any time.
An Enduring Power of Attorney is a Power of Attorney which continues in force after you become mentally incapable of managing your own affairs. In such a case your attorney is obliged to manage your affairs for you for your benefit.
Enduring Powers of Attorney are particularly useful for people who later suffer a stroke or who contract Alzheimer’s disease. If you do not have an Enduring Power of Attorney in such cases your affairs and assets are managed through the Guardianship Board or Public Trustee. Management by these bodies may cause difficulty or even hardship to your husband or wife.
You can revoke an Enduring Power of Attorney at any time while you are mentally capable of managing your own affairs, and it is automatically revoked by your death.
Powers of Attorney and Enduring Powers of Attorney only enable your Attorney to act for you in respect of your financial affairs.
If you do not have a current Will you might like to consider our Estate Planning Package which includes a Will, POA & POG which cost $660 for a couple and $550 for a single person.