How a Power of Attorney saved Greg thousands

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When Peter and Greg came to NSW Trustee & Guardian to make a Will, they didn't realise how valuable the advice to make a Power of Attorney would be a year later.

Planning ahead is essential to ensuring you are well equipped for life's unexpected and crucial moments. Greg, a NSW Trustee & Guardian customer, knows this firsthand after experiencing the recent passing of his beloved partner Peter.

In August 2020, Greg's partner Peter had an unexpected fall at home leaving him hospitalised. He was subsequently diagnosed with a terminal disease and passed away five weeks later. The loss of Peter left a very empty hole in Greg's life.

That period was an extremely difficult time, and Greg recounted how some of the burden that had been placed on his shoulders was lifted thanks to the advice he received from NSW Trustee & Guardian.

"Jacqui, NSW Trustee & Guardian will-maker, advised Peter to make me his Power of Attorney when she drew up his Will. As it turned out, it was prescient and very sound advice," Greg said.

A Power of Attorney is a legal document that gives someone the legal authority to manage your assets and make financial and legal decisions on your behalf. When Peter's health started to deteriorate, he decided that Greg should uplift the Power of Attorney.

"Peter rented an office for his business. He still had a current obligation of one and a half years remaining on his lease." Greg recounted.

"As soon as I uplifted the Power of Attorney, I made immediate arrangements to find a tenant to take over Peter's office lease.

"It saved many thousands of dollars in rental payments that Peter's estate would have been obligated to pay. Not to mention the worry for both Peter and I."

The Power of Attorney allowed Greg to take care of Peter's finances when he wasn't well enough to do so himself. Additionally, he was able to pay out Peter's mortgage using the savings from his bank account.

This helped Greg alleviate the stress of dealing with financial pressures and he was able to spend quality time with Peter in his last days.

Peter and Greg also married in 2020, a decision they discussed with Jacqui when drafting their Wills to see if there were any legal implications. It was a symbolic moment in their relationship and Peter is grateful he had a will-maker who fully supported their decision.

"I am very grateful for the professional, caring and sound legal advice we received. Thank you for your encouragement Jacqui."

It's important to plan ahead for life's unexpected and crucial moments. The professionals at NSW Trustee and Guardian can guide you through writing a Power of Attorney and other important documents.

Request an in-person or video conference appointment by contacting 1300 10 20 30 or visit NSW Trustee & Guardian's website.