5. Only about half of principals sought professional advice before creating their FEPOA and only a small portion of those currently acting as appointed decision-makers felt they understood their responsibilities very well when they started their role. a. Before creating their FEPOA, only about half of principals (52%) sought professional advice and discussed it with the person they wanted to appoint as their decision-maker. Fewer than half of principals (42%) explained to other family members or friends why they chose their appointed decision-maker. b. Fewer than three in ten principals (29%) discussed their choice of prospective appointeddecision maker with a trusted third party or considered whether to set limits or conditions in their FEPOA (27%). c. Before taking on the role of appointed decision-maker, only 35% of decision-makers gave the role high consideration and only 25% felt they had a very good understanding of their responsibilities when they started the role. 6. Australians overwhelmingly agreed that more education was needed on FEPOAs. a. Six in seven Australians (85%) agreed that more education on FEPOAs was needed. b. The six most popular topics for more education were: the potential risks associated with an FEPOA (81%), how to recognise and report misuse of an FEPOA (81%), the rights and responsibilities of the principal (81%), the process of arranging and revoking an FEPOA (81%), how to seek help if you have issues after setting up an FEPOA (81%), and the rights and responsibilities of an appointed decision-maker (71%). c. Most principals and appointed decision-makers felt that if additional information was provided, it should be early on in the process before an FEPOA is formalised (84%). A smaller but notable proportion (26%) were also interested in regular refreshers after the agreement is formalised. d. Australians indicated that a website (60%) followed by physical resources (e.g. pamphlets) (36%) and online training courses (36%) were the best way for them to receive information about FEPOAs. e. Other than the general public, principals and appointed decision-makers felt that aged care staff (57%), financial professionals (50%), legal professionals (50%) and FEPOA witnesses (49%) would also benefit from more information and education on FEPOAs. 7. When it comes to developing education on FEPOA, Australians identified having information that is standardised across the entire country as a top need. a. Australians considered it very important or moderately important when it comes to developing education on FEPOA that information is: i. in simple or plain English (95%) ii. from or endorsed by a trusted source (94%) iii. standardised across Australia (93%). 10 Empowering futures: A national survey on the understanding and use of financial enduring powers of attorney