A Power of Attorney (and what is now painfully called a ‘Medical Treatment Decision Maker’ document) operates while you are alive and steps when you pass away (or earlier, if you’ve chosen that). It allows you to choose someone (usually a close family member or friend) to do things that normally only you can do. It could be things like selling your house, talking to your banks, dealing with Centrelink/Services Australia, making decisions about your medical treatment or choosing an aged-care facility for you to live in.
A Will takes effect once you pass away. It appointments someone (usually a close family member, friend or Solicitor) to be your Executor, who will deal with your estate after you’re gone. Your executors will often choose Solicitors, sell any real estate, close your bank accounts, gather your assets together and distribute them to the people (your ‘beneficiaries’) who you have left inheritances to in your Will.
Leave A Comment