No. An emergency instruction is an organisational document - it structures information, contacts and duties, but it has no legal effect. Disposing of your estate upon death requires a will, and authorising someone to act on your behalf requires a power of attorney in the appropriate form.
The two kinds of documents complement each other well, though: the instruction tells your loved ones that a will or power of attorney exists, where it is and who to turn to for help. In practice it is the lack of such guidance - not the lack of formal documents - that most often delays handling matters in a sudden situation.
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