A Power of Attorney allows you to choose who you want to look after your financial affairs while you are still alive, if you are unable to make your own financial decisions because you are travelling or you may suffer from a medical condition that affects your ability to make financial decisions.
If you are travelling, or you lose the capacity to make your own financial decisions, then your loved ones must apply to the State Administrative Tribunal, who can appoint someone to look after your financial affairs.
The attorney appointed may be a family member or a third party such as the Public Trustee, who can make financial decisions on your behalf and who often charge fees which may come out of your estate.
At Butlers we recommend that everyone should have a Power of Attorney, because you should be the one who appoints someone to take care of your financial affairs, if you no longer can.
Powers of Guardianship
Like a Power of Attorney, a Power of Guardianship allows you to appoint a guardian who is authorised to make personal, lifestyle and treatment decisions on your behalf in the event that you lose the capacity to make those decisions yourself.
Advance Health Directives
An Advanced Health Directive or a Living Will allows you to decide what medical treatment or health care you would like in the event that you cannot make such decisions for yourself.
An Advanced Health Directive document expresses your wish in a general or specific way.
For example, you can elect not to be resuscitated if you are in a vegetative state and you can include medical information about yourself that health professionals may need to know, such as special health conditions, allergies to medications as well as religious, spiritual or cultural beliefs that could affect your care.
Such a document is a direction as to your wishes, rather than an appointment of guardian to manage your affairs.
Contact us to discuss which Directive is right for you.