Enduring power of attorney
“So long as some are strong and some are weak, the weak will be driven to the wall.” – Nietzsche
One morning I went to my favourite coffee shop and the owner told me that a customer had left a $100 gift voucher for me. I was stunned as this has never happened before and when I rang the customer to thank him, he said “the advice you gave me in a recent column was worth over a million dollars to me – this is my way of showing my appreciation”. It turned out the column was about the importance of having an enduring power of attorney not just an ordinary power of attorney.
Have you ever considered who would handle your affairs and attend to such jobs as home maintenance and rearranging investments if you were disabled or absent overseas? A power of attorney document enables you to give somebody else the authority to handle your affairs. The problem with an ordinary power of attorney is that it lapses if you become mentally incapacitated (which is exactly the time when it’s most needed). Therefore, make sure you use an ENDURING power of attorney which continues until death or you revoke it. You can arrange one through a solicitor or by using a simple form which is available at most stationery shops.