The consequences of not having a Power of Attorney are best illustrated using a case study.

Meet Jack and Jill.

They have retired and own their home. Unfortunately, Jack had an unexpected stroke and Jill can no longer look after him. Jack needs to move into an aged care facility where he can receive specialist care. The aged care facility requires payment of a large sum of money before Jack is able to move in. Jill needs to urgently sell their home to fund Jack’s move.

During the sale process, Jill discovers that Jack cannot sign the Contract for Sale of Land because Jack no longer has legal capacity to sign a contract.

Jill’s only option is to make a time consuming, stressful and costly Financial Management Order application to NCAT, which is a tribunal in Sydney. A simple Power of Attorney document could have saved all the trouble and expense

A simple Power of Attorney document could have saved time, money, and stress.

Don’t leave it until it’s too late. Rayners Lawyers can help you put the right estate planning documents in place now.