An Enduring Power of Attorney allows you to appoint an attorney to look after your financial and medical affairs in the event that you become unable to do so. Clearly execution of this document is required when you are still of sound mind. A person can lose capacity at any time through illness or accident so it is never too soon to effect an Enduring Power of Attorney.
If one loses capacity without having an Enduring Power of Attorney then nobody, not even your spouse, has the automatic right to manage your affairs. It is possible that the Public Trustee may ultimately take on the responsibility which is unlikely to be the desire of the person who has lost capacity.
To maintain control of your destiny we strongly recommend that you effect an Enduring Power of Attorney without delay.