SPEAK WITH AN ESTATE PLANNING LAWYER IN SYDNEY

An Enduring Power of Attorney is a legal document that allows you to appoint someone you trust to manage your financial affairs if you become unable to do so. This could be your spouse, a trusted family member, a close friend, or a professional adviser. It is a vital part of your estate planning and helps ensure your financial future is properly managed in the event of an accident or severe incapacity.

Your appointed attorney can access bank accounts to withdraw or deposit funds, pay bills, and manage assets such as property, shares, or other investments. They have a duty to act in your best interests and manage your finances responsibly.

It is important not to confuse an Enduring Power of Attorney with a Will. A Will only takes effect after your death, while an Enduring Power of Attorney allows someone to assist you with financial decisions during your lifetime if needed.

At Kells, we can provide legal advice on selecting the right person for this role and ensure the appointment is legally secure. Contact us to discuss how an Enduring Power of Attorney can protect your financial future and bring you peace of mind.

At Kells, we recommend that every adult has an Enduring Power of Attorney.

Life is unpredictable, and accidents or illness can happen at any time. It is important to have someone legally appointed to act on your behalf if you are unable to make decisions for yourself. This applies to everyone, regardless of age or life stage.

An Enduring Power of Attorney is essential in the event of severe incapacity:

• Crippling accident
• Stroke
• Dementia / Alzheimer’s diagnoses.

Remember that the unforeseen can strike without warning. Once you lose capacity, it is too late to make these arrangements. Protect your future by appointing an Enduring Power of Attorney today.

Yes, you can set up a Power of Attorney to be used while you are travelling overseas. This allows a trusted person to manage your financial and legal affairs during your absence.

At Kells, we can assist you in preparing a Power of Attorney document based on your needs. This ensures your responsibilities are managed, and your affairs are properly handled while you are abroad.

If you lose capacity and do not have an Enduring Power of Attorney, a family member will need to apply to the NSW Civil and Administrative Tribunal (NCAT) for permission to manage your legal and financial affairs. This process is time-consuming and can be costly for your family. NCAT decides who is the most suitable person to take on this responsibility.

If no suitable family member is available or appointed, your assets may be managed by a government body such as the NSW Trustee and Guardian. In some cases, your affairs might need to go through the NSW State Courts and Tribunals. Government administration of your estate can be expensive and may not align with your personal wishes.