POAs, Enduring Guardianship, AHDs
Powers of Attorney (POAs)
Many people do not know, but POAs are just as important as the will itself. Most will not appoint a POA until it is too late. Unlike the will which addresses how to distribute your assets when you pass, a POA can look after your financial affairs on your behalf while you are still alive. Situations where a need for a POA is required include:
- When you no longer have the ability to look after your own financial affairs
- When you move away for an extended period of time (eg. Overseas work)
Enduring Guardianship (EG)
While a POA looks after your financial affairs when you are not able to, an EG looks after your lifestyle and medical decisions in the same way. You may have been involved in an accident or have suffered a critical illness rendering you in able to make medical decisions yourself. This is when your EG steps in. It is important to remember that a POA and EG work side by side to cater for all unforeseen situations.
Advance Healthcare Directive (AHD)
This is a document which is attached to your EG. An AHD addresses the care which you wish or do not wish to receive in the case of illness. This includes critical matters such as end of life care. An AHD is not to be taken lightly and should reflect your own personal values and wants.
Have you taken our financial wellbeing health check to see which of these services can help you?