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A power of attorney is concerned with decision-making during your lifetime if you cannot manage matters yourself. At a high level, financial and personal decision-making are different issues. Estate planning often addresses who should manage financial and legal affairs, while medical and personal decisions may require separate appointments.
A will does not help while you are alive but unable to act. Without valid appointments, families can face delay and uncertainty at exactly the wrong time.
Choosing the right people — and being clear about the scope of their authority — is as important as preparing the document itself.
Incapacity planning sits alongside succession planning. Both are part of a complete estate plan.
A will deals with affairs after death. A power of attorney is concerned with decision-making during life if you cannot act. Both may be relevant, depending on your circumstances.
Not necessarily. Financial and personal or medical decision-making are often treated separately. The right arrangement depends on your circumstances and local requirements.
It becomes relevant if you lose capacity or otherwise cannot manage relevant affairs yourself. Exact operation depends on the document and your circumstances.
Yes, in many cases. Whether joint or substitute appointments are appropriate depends on the people involved and the responsibilities contemplated.
No. Company and business control issues may involve separate arrangements. An ordinary power of attorney should not be assumed to resolve every director or ownership issue.
Yes. Relationships, availability and trust can change. Whether an update is needed depends on your circumstances.
Knowledge Centre
Powers of Attorney
A clear general explanation of enduring powers of attorney, why they matter during life, and how they differ from a will.
Read topicLife Events
A practical guide to the life events and structural changes that often mean an estate plan should be reviewed.
Read topicBusiness Succession
A high-level look at ownership, control and continuity issues when a business owner dies, and why personal and business planning must work together.
Read topicNext step
If you want trusted people in place before a crisis forces the issue, incapacity planning can be addressed as part of a complete estate plan.