The 'three treasures': will, enduring power of attorney and advance medical directive
The 'three treasures' usually mean three key documents: a will, an enduring power of attorney (EPA) and an advance medical directive (AMD). They cover different situations — assets after death, finances if you lose mental capacity while alive, and medical wishes in a terminal condition. Putting them in place while healthy gives you peace of mind and eases the burden on your family later.
What are the three?
Generally: a will (how your estate is distributed after death), an enduring power of attorney (EPA — authorises a trusted person to manage your finances if you lose mental capacity), and an advance medical directive (AMD — states in advance your wish to refuse life-sustaining treatment in specified terminal situations). Together they cover the 'after death', 'finances while incapacitated' and 'end-of-life care' gaps.
| Document | Situation | When it takes effect |
|---|---|---|
| Will | Distribution of your estate | After death |
| Enduring power of attorney (EPA) | Finances if you lose mental capacity | On loss of capacity |
| Advance medical directive (AMD) | Medical wishes in terminal/specified situations | When the specified medical condition is met |
General education only, not legal or medical advice.
Why all three? Isn't a will enough?
No. A will only takes effect after death and can't handle your finances while you're alive but lack capacity — that's the EPA's role; and if you fall into a terminal, unresponsive state, the AMD lets doctors follow your pre-stated wishes. They address different points in time — miss one and you leave a gap.
What to note when making them
- Will: must meet legal formalities (witnessing), be clear, and is best drafted with a solicitor.
- EPA: a registered doctor first witnesses your mental capacity, then a solicitor witnesses the signing.
- AMD: use the specified form, sign with witnesses, and tell family and doctors where it is kept.
- Review regularly: update when family, assets or health change.
The legal requirements and procedures are best confirmed with a solicitor and medical professionals; see the EPA & AMD page.
How to start? With one family conversation
The hardest part is usually not the paperwork but starting the conversation. Begin from care and health, understand each other's wishes step by step, then arrange professional help to formalise them. If planning for parents, talking early and calmly leaves more options than acting at the last minute.
General education only, not legal or medical advice; arrangements vary by individual.
Related reading
Frequently asked questions
What are the 'three treasures'?
Generally a will, an enduring power of attorney (EPA) and an advance medical directive (AMD) — covering estate distribution after death, finances if you lose capacity while alive, and medical wishes in terminal situations.
If I have a will, do I still need an EPA and AMD?
Yes. A will only takes effect after death; the EPA handles finances while you are alive but lack capacity, and the AMD states end-of-life medical wishes. They address different points in time and complement rather than overlap.
What's required to make an EPA?
Generally a registered doctor first witnesses your mental capacity, then a solicitor witnesses the signing, using the prescribed form. Confirm details with a solicitor.
When should I start preparing the three?
As early as possible. Making them while healthy allows fuller decisions and eases the family's burden later; they are not only for the elderly.
Book a retirement planning consultation
An advisor helps you integrate MPF, annuities, insurance and cash flow.