
Planning for the future involves making important decisions about who will manage our affairs if we become unable to do so ourselves. Two key legal documents that address this concern are the Enduring Power of Attorney and the Enduring Power of Guardianship. While they share a common goal, there are crucial distinctions between the two.
An Enduring Power of Attorney primarily deals with property and financial matters. Through this legal instrument, an individual who has legal capacity grants authority to a chosen person or agency to make property and financial decisions on their behalf, in the event of incapacity. This could include managing bank accounts, paying bills, and dealing with property.
On the other hand, an Enduring Power of Guardianship focuses on non-financial aspects of life. It grants authority to a designated person or agency to make decisions about healthcare, accommodation, and lifestyle when the individual is no longer able to make these choices independently. This ensures that someone the individual trusts is empowered to make decisions aligned with their values and preferences.
In essence, while an Enduring Power of Attorney safeguards your financial interests, an Enduring Power of Guardianship protects your personal and health-related concerns. Both documents play pivotal roles in comprehensive future planning, offering peace of mind and legal clarity during challenging times.
If you need help preparing an Enduring Power of Attorney or an Enduring Power of Guardianship, at a fixed price, contact us today for a free 15 minute consultation.
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