A Power of Attorney is an Important tool to have – especially now.
We are all anxious about the future. The challenges that coronavirus will bring are unprecedented, ever changing and daunting. However, there is something you can do now that could help you and your business if you end up needing to self-isolate or quarantine.
A General Power of Attorney can be done reasonably quickly providing you with peace of mind that someone you trust will make decisions for you if you are unable.
A General Power of Attorney is usually used in a business context by a corporation or an individual. It can authorise your attorney to deal with your financial affairs and comes into effect on the date you elect. It may limit the extent to which your attorney may deal with those matters. A General Power of Attorney does not operate when you lose capacity to make decisions, so you need to assess whether an Enduring Power of Attorney is the better option for you personally.
If you own a business a General Power of Attorney will enable you to provide careful and tailored written instructions to your attorney to be used during a specific duration – for instance if you are required to self-isolate. In these current uncertain times having a General Power of Attorney could really make a difference as we endeavour to continue to move through unchartered territory.
Call Andrew Markert on 5440 4800 to discuss