Not having a power of attorney can significantly impact your estate planning and well-being, especially if you become incapacitated or unable to manage your affairs. Without someone authorised to make financial or healthcare decisions for you, crucial decisions can be delayed, leading to financial mismanagement, difficulty accessing medical care, and challenges in meeting daily expenses.
The absence of a power of attorney might require an application to VCAT or an equivalent tribunal, causing uncertainty, emotional strain, and extra costs. Decisions could end up being made by those who don’t know your preferences, or worse, a public trustee may be appointed, incurring significant expense.
Ensure you have control over who manages your affairs and makes decisions on your behalf by establishing a power of attorney. Proactive estate planning protects your interests, honours your wishes, and empowers your loved ones to act according to your values and priorities, even in unforeseen circumstances.
Inherit Australia supports Power of attorney and other nomination documents across all states of Australia. Documents can be generated with a personal account or in bulk with an adviser account.
Advisers login or signup here: https://www.inheritaustralia.com.au/advisers-accountants
Individual look here: https://www.inheritaustralia.com.au/power-of-attorney
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