Sarah's story - an EPA case study

Enduring Powers Of Attorney Handles Things You Can’t – Sarah’s Story

The benefits of Enduring Powers of Attorney include the peace of mind knowing that you and your affairs will still be taken care of when you can’t take care of yourself anymore.

Sarah* was a young-at-heart, independent woman, who would take life by the horns and brush off any worries with a wicked sense of humour. Her relationship with Perpetual Guardian client manager, Gail, began when Sarah’s parents died and she and her brother were both encouraged to set up Trusts. As Trustee, Perpetual Guardian managed the Trust’s assets and the purchase of property within Sarah’s Trust. Gail and the team also arranged a Will and Enduring Powers of Attorney (EPA) for both Sarah and her brother.

Then life happened.

Sarah’s health rapidly deteriorated and needed her health care to be funded by her Trust. The costs soon escalated to a point where the Trust could not foot the bill from existing liquid assets, meaning the Trust property would need to be sold. Because Sarah already had an EPA with Perpetual Guardian, client manager Gail found a suitable retirement facility that would cater to Sarah’s needs while allowing her to continue to be independent.

Unfortunately, Sarah had an accident which saw her in hospital for a few months. This compounding incident meant that Sarah lost capacity, and would not be able to continue with her current lifestyle. Around this time, she was moved from the hospital into a rehabilitation centre. She couldn’t stay at the centre forever but also couldn’t live in her apartment anymore.

Continuing her duties, client manager Gail scouted for a suitable facility to provide Sarah with the care she needed. A retirement village that also offered hospital care was found. Because Sarah had an EPA with Perpetual Guardian as well as her Trust, Gail was able to assist and arrange the necessary transfers from rehabilitation to the rest home. As Trustee, Perpetual Guardian implemented an investment strategy with the money from the sold Trust assets that best fit the requirements for Sarah’s care and lifestyle, as well as the circumstances of the other beneficiaries.

Sarah is currently wheelchair-bound, but Gail’s only concerns for her these days, are which library books to get her before their visits.

* The names of the clients in this article have been changed to protect the privacy of the parties involved.