What's the difference between a Will, an Enduring Power of Attorney, an Enduring Guardianship and an Advance Care Directive?
Each of these documents is important and plays a specific role in securing your future and ensuring your wishes are respected.
- ▶️ Will
- ▶️ Enduring Power of Attorney
- ▶️ Enduring Guardianship
- ▶️ Advance Care Directive
- ▶️ State and territory variations
- ▶️ Further reading about future planning
Top 3 messages about future planning documents:
- Know the purpose of each document.
- Recognise that the names and scope of these documents can vary significantly across different states and territories in Australia.
- Be aware of local laws to ensure the correct documents are in place.
? Will
A Will is a legal document that sets out your wishes for the settlement of your assets after you die. Learn more in our article on Wills and how they work.
? Enduring Power of Attorney
An Enduring Power of Attorney is a legal document that specifies what property, financial and legal decisions can and cannot be made on your behalf while you are alive. Learn more in our introduction on enduring powers of attorney.
? Enduring Guardianship
An Enduring Guardianship is a legal document to appoint a supportive decision-maker for your personal, health and lifestyle decisions if you become unable to make them yourself. Learn more in our article on enduring guardians.
❤️?️ Advance Care Directive
An Advance Care Directive is a document that sets out your directions for what medical treatments you would want to receive if you became unable to make or communicate those directions yourself. Learn more in our article on advance care directives.
State and territory variations
It is crucial to understand that the exact names and scope of documents, such as an Enduring Power of Attorney and Enduring Guardian, can vary across different states and territories in Australia. e.g. In Queensland an Enduring Power of Attorney allows you to appoint someone to make financial decisions and/or personal and health decisions.
It is vital to be aware of the laws where you live to ensure you have the necessary documents in place to protect your wishes effectively.
Further reading about future planning
For more comprehensive information and answers to your key questions on these topics, you can explore Compass's dedicated section on Future Planning.
Disclaimer: The information provided on this website is not a substitute for individual legal advice.
