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A financial attorney is someone who you have nominated to deal with your legal and financial affairs, if you were to lose capacity due to illness or injury.
To nominate a financial attorney, you must complete a document called an ‘enduring power of attorney’ prior to becoming incapacitated.
If you do not have an enduring power of attorney in place, and therefore no one is appointed legally to act on your behalf and manage your finances, a tribunal may be asked to appoint an administrator or guardian to assist you.
Some people appoint a family member or friend as their financial attorney, without realising the burden they are placing on that person. There are many tasks, and it can be draining when there are disputes over the management of your financial and legal affairs.
For this reason, many people appoint a trustee company such as Australian Unity Trustees to act as their financial attorney. We will always act in accordance with our duties and obligations, keeping your best interests front of mind for all decisions made.
We can work alongside appointed attorneys, providing specialist legal, financial and taxation advice to provide them with the skills and tools to seek the best outcomes for the person depending on them.
