Powers of attorney and enduring guardianship
We get it — no one wants to think about something severely impacting their ability to make their own financial, health, and lifestyle decisions. Especially when you’re young and healthy and have the world at your feet.
But no matter how old you are or how many assets you might own, it’s still important to have a plan for how these decisions will be made, should something prevent you from doing so yourself.
That is where Nikolovski Lawyers can help.
How can we help?
At Nikolovski Lawyers, we believe that every Australian deserves the peace of mind knowing that someone they trust will look after their affairs when they themselves cannot. For 25 years, our expert team of property and estates lawyers in Wollongong have proudly fought for that right.
In that time, we’ve learnt that no two clients, and no two Wills are ever the same. That is why we’re committed to treating you and the preparation of your Will with the care, compassion, and attention it deserves.
What is a Power of Attorney?
What if something happens to you and you no longer have the capacity to make decisions about your own financial affairs? That is where having a Power of Attorney is key.
A Power of Attorney is a legal document whereby you appoint another person to become your ‘attorney’. While people usually select their spouse, children, relatives, or friends as their attorney, you can choose anyone who you trust to act in your best interests when managing your financial affairs.
Should something incapacitate you, they’ll have the power to take certain actions on your behalf. These might include opening and closing bank accounts, paying your bills, and insuring your assets, to name just a few.
What is an Enduring Guardian?
What if something happens to you and you no longer have the capacity to make decisions about your health and wellbeing? That is where having an Enduring Guardian is key.
An Enduring Guardianship is a legal document whereby you appoint another person to become your ‘guardian’. While people usually select their spouse, children, relatives, or friends as their guardian, you can choose anyone who you trust to act in your best interests when managing your health and well-being.
Should something incapacitate you, they’ll have the power to take certain actions on your behalf. These might include healthcare decisions relating to medicines and surgeries, or lifestyle decisions such as where you live and how you’ll be cared for in your home.
Why have an Attorney and/or Guardian?
The very best reason for appointing an attorney/guardian is the peace of mind that all your affairs will be looked after by somebody you trust.
It can spare a lot of heartache down the line too. If something were to happen to you without an enduring attorney or guardian, then a court or tribunal might appoint one on your behalf. If the appointment doesn’t sit right with your family and friends, they’ll have to challenge the ruling with the NSW Civil and Administrative Tribunal, often at considerable expense.
Common examples of accidents and conditions that impair your decision-making ability include the onset of alzheimers, dementia, severe mental illness, tragic accidents and strokes.