If you have an accident or fall ill, who will make financial decisions on your behalf?
A power of attorney is a legal document that allows you to nominate someone you trust to make financial decisions on your behalf if you are unable to do so.
A popular misconception is that a person's partner can make financial decisions for them and manage their assets. However, unless a formal power of attorney has been granted, these decisions may revert to a government agency instead. Having a power of attorney in place means you can nominate the person you want to make the decisions; it protects your interests.
Depending on state and territory laws, as well as your circumstances, a power of attorney can operate in different ways:
A power of attorney will give you peace of mind that someone you trust will manage your financial and legal affairs on your behalf.
For more information on powers of attorney, please speak to your adviser or call us on 1800 882 218.