After years of practice we’ve found that many of our conveyancing clients do not have their legal affairs in order. So don’t feel embarrassed if that’s the case for you because you’re not alone. Understandably, many of us do not want to consider or plan for bad times or how our death or infirmity will affect our loved ones. But death and incapacity will come to us all one day so we strongly advise you to create a Will and set up an Enduring Power of Attorney to get your legal affairs in order.
Why do I need to get my legal affairs in order?
If you die with a valid Will in place your assets will be divided according to your wishes and your family and loved ones will avoid any additional stress caused by lengthy and expensive court procedures.
The Enduring Power of Attorney is equally important in case you become incapacitated through illness or an accident and remain alive but become unable to do anything for yourself or deal with your financial or legal affairs.
How can I get my legal affairs in order?
Charter Conveyancing can draft a valid Will and Enduring Power of Attorney for you to give you immediate peace of mind knowing that if you die, or become so ill you can’t handle you affairs, everything will be taken care of according to your wishes.
Why do I need an Enduring Power of Attorney?
Both a Will and Enduring Power of Attorney are essential legal documents that enable you to get your affairs sorted for good.
A standard Power of Attorney allows you to nominate who has control of your legal and financial affairs if you’re away or unable to deal with them but an Enduring Power of Attorney allows you to nominate someone to act for you only if at some future time you should lose capacity.
Setting up your Enduring Power of Attorney allows a person you trust and nominate to take care of your decisions in the event that you lose the capacity to do so. Can you imagine what would happen if you were seriously ill, in a coma or in intensive care and no one could access your bank accounts to pay vital bills or run your business? It’s a fairly common scenario but one that can be avoided if you set up an Enduring Power of Attorney.
Even if your future incapacity is temporary, getting an Enduring Power of Attorney in place now involves only a small cost and effort which guarantees your affairs will run smoothly when you can’t take care of them and gives you instant peace of mind.
How do I set up an Enduring Power of Attorney?
An Enduring Power of Attorney can cause a lot of problems if you hand control over to the wrong person and do not limit the conditions or events which enable the attorney to act. Horror stories are common when an Enduring Power of Attorney is set up badly or online and many of us have
heard stories of this power being abused by well-meaning or poorly intentioned family members or friends.
Having a properly drafted Enduring Power of Attorney document can mean the difference between protecting yourself and being taken advantage of when you’re at your most vulnerable.
There’s an old saying that an ounce of prevention is worth a pound of cure and that’s certainly true when it comes to setting up your Enduring Power of Attorney.
That’s why we recommend you hire us to take your instructions, give you well thought out advice and properly draft your Enduring Power of Attorney. Bear in mind that if your Enduring Power of Attorney is not drafted properly and you lose capacity to control your legal or financial affairs it can mean an expensive, frustrating and time-consuming process as it goes through the courts and tribunals.
However, if you become incapacitated with a valid Enduring Power of Attorney in place your trusted nominated person or persons will be able to handle your affairs when you can’t and your family and loved ones will avoid any additional stress caused by lengthy and expensive court procedures.
Contact us now with your questions or to find out more. We’ll be happy to talk to you at length and explain the process because having a Will and Enduring Power of Attorney in place gives our clients instant and priceless peace of mind.