Power of Attorney and Enduring Guardianship in NSW
Thinking about a Power of Attorney? Imagine you are incapacitated or unconscious while important decisions need to be made. Who would you trust to make day-to-day decisions about your life? Who would you trust to manage your money? Who should decide what sort of medical treatment you do or do not receive?
If you live in New South Wales and are thinking about appointing someone to help to manage your life, then you need to know about the difference between a Power of Attorney and an Enduring Guardianship. With knowledge of this distinction, it will be possible for you to make the correct appointment that applies to your personal circumstances.
A Power of Attorney is legal document that authorises a person to manage your financial and legal affairs while you are still alive and can be prepared to operate if you were to lose mental capacity. You can appoint another person to act in accordance with your instructions and potentially handle such matters as purchasing or selling property, dealing with investments, paying bills, signing tax returns and commencing or defending legal disputes.
An Enduring Guardianship Appointment form is a separate legal document that authorises a person to make decisions of a more personal kind. This document can only take effect if you lose the mental capacity to make important lifestyle and health-care decisions. In such circumstances, your Enduring Guardian will be able to assist you to make decisions that relate to your living arrangements, health care, and diet.
You do not necessarily have to appoint a family member as your Power of Attorney and Enduring Guardian. You should just appoint someone that you trust. Whoever your appoint, it should be someone who has proven to be consistently trustworthy, helpful, and reliable.
Farrar Gesini Dunn’s specialist Wills and Estates lawyers can help you navigate the law in this area. Phone us today on 02 9045 2600 for an obligation-free chat.