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Enduring Power of Attorney: The Document Everyone Delays (And What It Costs You)

Enduring Power of Attorney: The Document Everyone Delays (And What It Costs You)

The Next Bit Podcast
• 35 min
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Most people treat their enduring power of attorney as an afterthought to their will — if they think about it at all. Brendan Reidy, branch manager at Perpetual Guardian, has spent his career sitting across the table from families who didn't. In this episode, Brendan breaks down the two types of EPA — property, and personal care and welfare — and why so many people agree to act as someone's attorney without understanding what they're actually signing up for. We get into what happens when there's no EPA in place (think family court, six-month waits, and legal bills running into the thousands), the real liability an attorney carries if a sibling later challenges their decisions, and a case that shows how badly things can go when the role is left to chance: an elderly woman kept out of the care she needed, $50,000 unaccounted for, and a family blindsided by what they didn't know to ask. We also talk about the parts nobody warns you about — the unpaid, unglamorous hours of managing someone else's whole financial life, why attorneys can be personally challenged by an estate years later, and how a well-drafted document can protect both the person acting and the person they're acting for. If you've ever agreed to be someone's attorney without quite knowing what that meant, or you're the parent who hasn't gotten around to setting it up yet, this one's for you. The Next Bit Host is: Hannah McQueen - Founder of Brightly Guest: Brendan Reidy, Branch Manage at Perpetual Guardian Join our community! We love to hear your feedback and questions. Instagram: https://www.instagram.com/thenextbitpodcast/ Facebook: https://www.facebook.com/profile.php?id=61584248556816 TikTok: https://www.tiktok.com/@thenextbitpodcast YouTube: https://www.youtube.com/@TheNextBitPodcast Credits Director, Executive Producer & Editor: Arama Murray from Mention Direction Podcast Creator, Executive Producer & Host: Hannah McQueen Research & Production: Shelley Smith Additional Support: Billy McQueen