Wills & Estates
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Andrew Bell
Power of Attorney Horror Stories: Why Every Adult Needs an EPA
Wills get all the attention, but the document that most often saves Queensland families from disaster is the Enduring Power of Attorney (EPA). We see the consequences of not having one every month - and none of them are pretty.
Horror Story 1: The Frozen Bank Accounts A Gold Coast husband suffers a stroke; the family business account, the mortgage offset, everything - is in his sole name. His wife cannot pay school fees, the mortgage, or the carers. Without an EPA, no bank will let her touch his accounts, no matter how long the marriage or how joint their lives have been. The only remedy is a QCAT administration application 1 - tribunal process taking months, ongoing annual reporting obligations to the Public Trustee-supervised regime, legal costs, and a stranger-in-the-system feeling - just to do what a two-page document would have allowed overnight.