Saving money and heartache with a Power of Attorney

While the majority of people are living longer these days, it does not follow that all are remaining fit, physically and mentally, to deal with their own legal and financial affairs.

If a person loses capacity, which can happen slowly over time or suddenly because of an accident or serious illness, it can result in real complications for families. They may not be able to access bank accounts, pay bills or sell property at a time which will be difficult for all concerned.

While a person does have the capacity and not needing help at the moment, consideration should be given to creating an Enduring Power of Attorney. This allows someone, chosen rather than appointed by a Tribunal, to deal with their legal and financial matters if mental capacity is lost.

Making an Enduring Power of Attorney is an easy and practical step to prepare for the future. Once a person has lost the mental capacity to understand what they are doing, they cannot make a Power of Attorney.

It is never too soon to plan for your own security and to enable someone to help you should the time come. It is a real risk that it is left too late.

Contact our Power of Attorney Lawyers in Sydney, NSW

If the abovementioned situation resonates with you, or you are already considering appointing an Attorney under a Power of Attorney document, then you should seek expert legal advice as soon as possible. Contact Szabo & Associates Solicitors and speak to one of our specialists. Call us on 02 9281 5088 or complete the online contact form.