Why have an Enduring Power of Attorney?
When you have an enduring power of attorney in place, you say who can make decisions for you when you are not able to. For example, when you are not able to make decisions yourself anymore because of an accident or illness.
Without an enduring power of attorney, who you want to make decisions for you may not be known or respected. It can lead to disagreements among family and friends. It may also mean important decisions may be delayed when they are most needed.
If you don’t have a power of attorney, your family or friends may need to apply to the Victorian Civil and Administrative Tribunal (VCAT). VCAT can then appoint:
- an administrator to manage your finances
- a guardian to manage your personal affairs and make decisions about your medical treatment.
This process takes time and may mean that bills are paid late and your investments are not looked after during that time. VCAT may also not appoint the person you would have chosen.
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