Durable Power of Attorney
Responding to this need, Austria's civil law notaries have developed a new service which offers a tailor-made solution: having a durable power of attorney executed by a notary. In setting up a durable power of attorney, you yourself decide who may act and take decisions on your behalf should you no be longer able to.
A far-reaching decision which requires prudent advice.
Deciding to set up a durable power of attorney needs utmost responsibility and care. On the part of grantors as well as those who advise them. Consulting your civil law notary is certainly the most obvious thing to.
From their experience, civil law notaries are familiar with the issues at stake. They know the right questions to ask. And they are aware of the all-importance of devising customised answers and tailor-made solutions. Civil law notaries offer a service which promises added security to all those involved.
Following the time-honoured model of wills, Austria's civil law notaries have set up a central register of durable powers of attorney.
This register records all durable powers of attorney executed by a notary. Security for you - and for those you entrust.
Advance arrangements are priceless. But never overpriced.
The cost of preparing a durable power of attorney depends on the specific case. It will amount to only a fraction of what subsequent settlements or even litigation in court may entail. Setting up a straightforward durable power of attorney with a notary does not cost more than a will. It therefore makes sense to consider preparing a durable power of attorney in combination with a will.
In the event of incapacitation, courts normally appoint a guardian. Government authorities, banks, hospitals, or nursing homes, often institute guardianship proceedings as a precaution for financial or medical dealings. Would you want your affairs to be managed by a guardian?