Any person may become incapable of managing their own affairs at any stage in life. An accident, ill health or mental illness may make the everyday routines of paying bills and making financial decisions difficult and stressful, and in many cases, impossible. When a person becomes incapable of managing ones affairs it can be a difficult time both for oneself personally and more importantly ones family and close friends. From both a practical and financial point of view it makes sense to consider appointing an attorney under what is termed an “enduring power of attorney” should that day arrive.
The person creating the enduring power of attorney is known as the “donor” and the person appointed is known as the “attorney”.In planning ahead and making an enduring power of attorney, you are able to give your instructions whilst you are of sound mind, in anticipation of the possibility of not being capable at some future date to manage your affairs as you would otherwise wish.
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