An Enduring Power of Attorney is an important planning tool that ensures your financial decisions will be looked after if you become unable to manage your own affairs.
Elder Abuse Action Australia (EAAA) together with Compass (a national website which aims to create a national focus on elder abuse) is hosting a free webinar to highlight the importance for all people over the age of 65 to have in place an Enduring Power of Attorney document that ensures their financial decisions will be looked after if they become unable to manage their own affairs.
An Enduring Power of Attorney 'endures' past the point where a person no longer has decision-making capacity, potentially through until end of life. A person can make an Enduring Power of Attorney (EPOA) whenever they choose and revoke it at any time, provided they have capacity.
An Enduring Power of Attorney differs from Power of Attorney (POA) in that a POA covers specific situations, like travelling overseas or being in hospital. A person can make, change or revoke a POA whenever they choose provided they have capacity.
Both documents are different to a will. A will is designed to ensure that a person's wishes for the distribution of their assets (such as property, money and shares) will be carried out after they die. However, a will doesn't provide authority to anyone for managing the person's financial affairs while they are alive, even if they lose capacity.
Each Australian state and territory have different arrangements (and some use different names) for an enduring power of attorney, but the general principles are the same. To check arrangements in each state and territory click here.
Expert panellists include: John Chesterman (Public Advocate,Queensland), Karen Williams (ADA Law) and Dr Patricia Reyes (Director of Medical Services at the War Memorial Hospital, Waverley and Consultant Geriatrician at St Vincent's Hospital, Sydney).
Topics of discussion will include:
- What is an Enduring Power of Attorney?
- What should it include?
- Understanding capacity, why it's important and how it is determined
- How to choose the right Attorney
- What being an Attorney involves?
- Factors for those within the LGBTQIA+ and other community groups need to consider
- Discussing the common examples of the misuse of Enduring Power of Attorney arrangement and the remedies at hand.
The webinar will begin at 12.30pm and run for 60 minutes. It will be moderated by award winning journalist Philippa McDonald.
