Practitioners will recall the PII questionnaire prompting them to consider appointing a power of attorney for their practice.
Lexon Insurance Pte Ltd requires that sole practitioners and sole legal practitioner directors have a financial power of attorney in place in order to access the free Help Now program in cases where the practitioner loses capacity.
For incorporated entities the power of attorney may also be operative in the event of the death of the sole legal practitioner director. You can find out more about Lexon’s program and read Lexon’s Help Now Information Sheet.
Queensland Law Society considers it imperative that in the event of illness or loss of capacity you have an attorney who can step in and manage your practice.
In the absence of a power of attorney, QLS may be required to appoint a receiver for the law practice (at a cost to the law practice) before Lexon may conduct the Help Now process.
For more information on the type of power of attorney you may need, please see the FAQs here. If you are a QLS member, you are also entitled to a complimentary Practice Advisory Service visit with one of team’s practitioners to discuss the above or other practice management issues.