Got a power of attorney? Nope! Don’t know why you need one? If you’re in Australia, watch and find out! If you want to find out more about whether a power of attorney is truly necessary, head on over to my blog post https://www.taralucke.com.au/real-talk-is-an-enduring-power-of-attorney-truly-necessary/

Hi. Tara Lucke here. You heard me explain the importance of your will, but what about your power of attorney? The power of attorney applies while you’re still alive, but if you’ve lost capacity, to make your medical or financial decisions.

If you do not have a power of attorney and you lose capacity, it can be up to the government to choose who out of your friends and family will make decisions on your behalf and it could be someone that you don’t trust. I strongly recommend that you get a power of attorney made, so you choose who those important positions get placed on. There are some arrangements where next of kin can make decisions on your behalf without a power of attorney. But these are very ad hoc.

Don’t leave your family or friends with an administrative nightmare. Get a power of attorney sorted so you’ve got peace of mind about who will step in if the worst happens.

 

Start having estate planning conversations that work with my tried and tested conversation template!

Top 10 Mistakes When Nominating Financial Controllers

Top 20 Estate Planning Mistakes

Testamentary Trust Decision Making Cheat Sheet

10 Reasons Your Client Needs A New Estate Plan