Preparing an enduring power of attorney allows you to choose an attorney/s who will take care of your financial needs if your decision-making ability is impaired or if you no longer want the responsibility.
Acting as an attorney is a demanding job and requires a wide range of responsibilities. A sound knowledge of legal, business, financial and investment issues is crucial. It is so important you choose someone whom you trust to act in your best interests now and into the future.
When choosing an attorney ask yourself:
- are they able to give the time to take on the responsibility?
- can they obey the instructions and directions and act according to any limits or conditions placed on their authority?
- do they have the business and financial skills required to undertake the task?
- can they avoid doing anything which would mean that their interests conflict with your interests?
- can they make potentially difficult decisions free from pressure (example other siblings) and emotion (i.e. selling family home and control over contents)?
- are they susceptible to the inappropriate influence of others (i.e. a spouse or other family members)?
- can they be trusted to act impartially in your best interests, now and in the future?
- do they understand and accept they are liable for the decisions they make?
- are they accessible and accountable?
Your attorney must also recognise your right to confidentiality and respect your views and wishes, taking into account your existing relationships, values and culture.
If you have any concerns about your attorney or the person you propose to appoint, then you should consider appointing a professional attorney such as the Public Trustee.
The Public Trustee has the experience you can trust. Our lawyers will guide you through the process of preparing an enduring power of attorney and ask the right questions so you can make the best possible plan for your assets and your family circumstances.
To book an appointment to prepare or update an enduring power of attorney, please contact us on 1800 068 784 or click here to make an appointment