Money Australia – July 2017

MO EMONEYJULY 2017 155

NEWS BITES

A

n enduring power of attorney
(EPOA) is something we
should all consider, but knowing
when to make one is equally
as important. It is therefore
essentialtoconsiderthetiming.
Your attorney’s power continues after you have
lostthementalcapacitytomakedecisionsabout
your financial affairs. The EPOA will need to be
explainedtoyoubya“prescribedwitness”,such
as a solicitor or even, if you’re overseas, a legal
practitioner qualified in a country other than
Australia. Accordingly, a valid EPOA should be done
before you are ever at risk of being deemed not to

have capacity to deal with your finances.

ItisrecommendedthatanEPOAismade

as part of your broader estate planning

andprobablyyearsbeforeyouever

intendittotakeeffect.

Whoever you choose as your

attorney must be aware of their

responsibility to act in your best

interests. Therefore, you need to ensure

it is someone you trust and who is

capable of dealing with your financial

arrangements, no matter how complex.

Peter Townsend,principal, Townsends

Business & Corporate Lawyers

Digital investing platform Acorns

has released a new sustainable

investment option. The Emerald

Portfolio is designed to meet

environmental, social and

corporate governance standards.

It invests in two exchange traded

funds, Russell’s Australian

Responsible ETF and BetaShares’

Global Sustainability Leaders

ETF, plus a mix of Australian

government bonds and cash. The

projected 11-year return with an

investment of $30 a month is 42%.

Foxtel has revamped its digital

streaming offering, Foxtel Go. The

service has now rebranded as Foxtel

Now, offering subscribers a cheaper

$10 entry point and more features. The

new service allows viewers to stream in

high definition and is compatible with

Google’s Chromecast.

Real estate agent comparison

site OpenAgent has launched a

free tool to help property owners

estimate their property’s value.

OpenEstimates.com.au allows

users to compare the value of

their property with similar

surrounding properties, and be

updatedwithanypossiblevalue

changes as these properties sell.

ThepercentageofAussieswhowouldgo

completely cashless given the choice, according to

ING’s International Survey Mobile Banking 2017.

About 57% say they could get by without cash

foroneweek.Longerisharder,withonly43%

confident they could last a month. Cash is

king for smaller buys as 86% still

prefer cash for purchases

under $15.

24%

Timing for power of attorney