What's a Power of Attorney? And how's this one 'Enduring'?
A Power of Attorney is where you give someone else power to make decisions on your behalf. This used to be done all the time before email and Zoom - like whenever you went overseas, and you needed someone to take care of your important business back home.
Now we generally talk about 'Enduring' Powers of Attorney. This is where you give someone else the power to make decisions on your behalf, but the power 'endures' past you losing your mental capacity. So, if you sustain a head injury, or have a disease that makes you unable to make decisions for yourself, your Attorney can make them for you.
There are two types of Enduring Powers of Attorney ("EPOAs") - one for Property and one for Personal Care and Welfare. These allow you to appoint different people to make decisions about these different parts of your life.
You might not see the point of making EPOAs now. But you need to make them before you lose your mental decision-making powers. Having EPOAs in place makes it so much easier for family members left with tough decisions to make, and it means they don't need to go through the Family Court to get court orders.
There are standard forms for EPOAs, but these have a lot of options, and you must get legal advice before you sign one to make it legally binding.
When you make an EPOA with Convex, we don't just go through the motions of advising you on a standard form. We take the time to sit down and learn about your family, your finances and your future. This gives us the context to provide you with the appropriate guidance for protecting your assets, providing for your kids, and safeguarding your legacy. And you still get a fancy piece of paper.
An EPOA in 5 simple steps
Step 1: You fill in our ‘initial info’ form below. Do it now! It will take you 10 minutes and there’s no hard questions!
Step 2: One of our team will be in touch to confirm your instructions.
Step 3: We meet for a chat. In person, or online – whatever suits you, to understand what you want in your EPOA.
Step 4: We take the info from our chat, and mould it into new EPOAs for Property and Personal Care and Welfare, ready for your feedback. We can go back-and-forth editing it with you until the EPOAs are polished and finalised!
Step 5: Can we have your autograph? We meet with you to advise you on the EPOA and sign it. Your Attorneys also need to sign the EPOA with a witness.
Easy to understand pricing
To give you an idea of how much EPOAs might cost you:
One person Property and Personal EPOA $595 + GST
Two people Property and Personal EPOA $995 + GST
One person Will and EPOA (Property and Personal) $995 + GST
Two people Will and EPOA (Property and Personal) $1,600 + GST
We can also help with Wills
EPOAs only apply while you're alive. Your will is the document where you set out who you would like to inherit your property once you die. You also appoint Executors to take care of the distribution of your property, and Guardians to take care of your children. See more information about Wills here.