Why a Power of Attorney (POA)?
Appointing someone as your POA allows the designated person to act on your behalf to make decisions with respect to your financial affairs in the event that you do not have capacity. This includes bank accounts, securities, your home and personal property. For obvious reasons, it is imperative that you choose someone you trust without hesitation.
Creating a POA by no means deprives you of any control over your personal affairs. It is viewed as a contingency document that becomes a powerful instrument when it is needed.
So, why would I also need an Enduring Guardian?
An Enduring Guardian is someone you appoint to make decisions on your behalf with respect to your personal needs, NOT YOUR FINANCES.
It only comes into effect when you are in a position where you can no longer tell your health care providers and others what your personal needs are. Therefore, your Enduring Guardian will be able to make decisions for you in relation to where you live, what health care you receive, what kinds of personal services you receive, what medications you take and perhaps what nursing home you may live in.
The combined use of a POA and an Enduring Guardianship covers decision making with regard to all facets of your life. To ensure you are prepared for whatever life throws at you, call our office today to speak to one of our Solicitors about creating a POA and an Enduring Guardianship.