Why Everyone Needs Enduring Powers of Attorney
Most people think a Will is enough. It isn’t.
A Will only takes effect when you die. But what happens if you lose mental capacity while you’re alive? Who pays your bills? Who makes health decisions for you?
Without Enduring Powers of Attorney (EPOAs), no one has legal authority to act. Your family may need to apply to the Family Court—an expensive and stressful process.
Consider Ralph (not his real name). Ralph had appointed his sister Betty as his sole property and welfare attorney. But when Ralph lost his mental faculties, Betty had already died. Because Ralph had no surviving attorney, his family had to apply to the Family Court for an order appointing a Property and Welfare Manager. The Court—not Ralph—decided who that would be. In the end, the Court handed control of Ralph’s property affairs to the Public Trust, who then charged Ralph fees for their services.
The lesson?
You need EPOAs for both Property and Personal Care & Welfare.
You need back-up attorneys in case your first choice is unable to act.
You need them now, before it’s too late.
At Ross Holmes Virtual Lawyers, we prepare EPOAs that cover the worst-case scenarios and give you real peace of mind.
