ENDURING POWERS OF ATTORNEY

 

An Enduring Power of Attorney allows you to appoint a trusted friend or family member to both manage your assets, and to make financial decisions on your behalf.

 

This may include paying your bills for you, accessing your bank accounts, and selling or otherwise disposing of your assets in order to meet your expenses.

An Enduring Power of Attorney becomes particularly important if you lose mental capacity, either permanently or temporarily, and are no longer able to manage your financial affairs.

You are, however, able to provide your appointed Attorney with the power to deal with your assets even if you are still of sound mind. For example, you may be planning to take an extended overseas vacation and would like someone to manage your finances while you are away. 

DID YOU KNOW

Many people assume that their husband or wife will have the automatic power to make financial decisions on their behalf if they have an accident, become sick, or are otherwise incapacitated.

This is not the case. If you hold bank accounts, property or assets in your sole name, it is likely that your spouse will not be able to access or dispose of these assets, which may leave them unable to financially support themselves or your children.

In these circumstances, they will be required to bring an application to the State Administrative Tribunal, seeking to be appointed your legal Administrator. In many cases, this proves to be significantly time consuming, expensive and stressful.

DID YOU KNOW

An Enduring Power of Attorney document does not automatically provide your nominated Attorney with the capacity to deal with real estate owned by you.

 

For this to occur, your Enduring Power of Attorney must be registered with Landgate, which is otherwise known as Western Australia’s Department of Land.

 

We are able to arrange this registration on your behalf, as part of the comprehensive service we provide to our clients.

DID YOU KNOW

Once you have lost mental capacity, it is too late to make a Power of Attorney.

 

Many people assume that they will be of sound mind until they are elderly. However, in truth, people often suffer accident or illness at a young age, which leaves them incapacitated.

 

An Enduring Power of Attorney will give you the peace of mind in knowing that, if the unthinkable does happen, you will be providing your loved ones with immediate access to your finances.

Contact Coast Wills & Estate Law to make your Enduring Power of Attorney or Book Online now.

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Coast Wills & Estate Law

Phone: 0408824298
Email: admin@coastwills.com

Mail: 114 Aurea Boulevard

Golden Bay WA 6174

ABN 56 095 101 264

Registered 2018