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Show Notes

Today we’re talking about the difference between an enduring power of attorney and an advanced health directive. So you would have probably heard these terms before.  At the moment on the show with where we’re talking about estate planning. And these two documents fall into that category.

Enduring powers of attorney

You can appoint an attorney to make decisions on your behalf. And there’s two types of decisions they make.  There are financial decisions like selling a house. There’s also personal and health decisions. That includes decisions like turning off a life support system or withholding a blood transfusion.

Generally, your spouse, children or siblings would be given these powers.

Advance health directive

This sets out what your wishes are if you’re diagnosed with certain diseases or conditions.  It’s a pretty comprehensive document that goes through a lot of decisions. There are something like 100 or conditions that are discussed. You’ve got to say whether or not you want medical resources to be used to treat you.  This also includes things like Do Not Resuscitate orders. And you’ve got to sit down and fill it out with a doctor who will explain what each of those conditions means.

If people have questions they can let us know! We’d be happy to help them out.

#estateplanning #wills #powerofattorney #advanceheathdirective #business #smallbusiness #planning #australia #law #legaladvice

 

More about this Show

We started Business Legal Lifecycle to create a simple way for you to understand complex legal terms.  Most importantly we want to help you to develop a plan to take your business successfully into the future.  There’s a startling statistic the underscores the importance of developing a solid plan.  The majority of business owners are just seven months away from losing everything.  A single aspect of your business that is not set-up correctly can shut down your whole operation very quickly.   Legal advice is not cheap and even when you can afford it there is often a divide between lawyers and their clients.  We want to close that gap once and for all.  We want to put legal knowledge and tools into your hand to prevent the worst from happening to you.

Twice a week we are going to deliver those tools right to your home or office with Business Legal Lifecycle TV.  We’ll start the week with Fast Fix Monday, a short 5-10 minute video that will tackle a single issue that businesses have to deal with.  Then on Wednesday’s our main show will feature with more fulsome discussions and interviews all delivered in a straightforward and easy to understand format.