Estate planning is not only about what happens after death. Many families also plan for the possibility that someone becomes unable to make decisions due to illness, injury, or age-related decline.
What a power of attorney does
- Allows a trusted person to manage financial or legal decisions (depending on type)
- Can reduce crisis decision-making under pressure
- Helps families deal with banks and institutions where authority is required
When people commonly put one in place
- Having children or taking on a mortgage
- Running a business
- Major travel or extended time overseas
- Health concerns or ageing planning
- Wanting clear, trusted decision-making if capacity changes
Frequently asked questions
Is a power of attorney the same as a will?
No. A will operates after death. A power of attorney generally operates during life (especially if you lose capacity).
Do I lose control if I appoint someone?
Not necessarily. The details depend on the document type and how it’s drafted.
This article is general information and not legal advice.