Enduring Power of Attorney

An Enduring Power of Attorney is the most important financial document in estate planning aside from your Will. It lets your chosen attorney keep managing your money, property and legal affairs if illness or injury robs you of capacity. The word "enduring" is the key difference from a General Power of Attorney, which automatically ends the moment you can no longer make decisions for yourself. Without one, your family may have to apply to a tribunal to be appointed as your administrator.

An Enduring Power of Attorney must be made while you still have capacity, in the prescribed state form, and witnessed by an authorised witness. Example: When Tom was diagnosed with early dementia, his existing Enduring Power of Attorney let his son keep paying his bills without a costly tribunal application. Terminology varies — in some states it covers only finances, while personal and health decisions are handled separately by an Enduring Guardian or under an Advance Care Directive.