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A
power of attorney is a formal written document in which
you authorise another person to represent you in certain
circumstances. It relates to your financial affairs only,
and not lifestyle or medical decisions.
A
general power of attorney allows the person
you appoint (your attorney) to deal with your financial
affairs (for example: to buy and sell things on your behalf,
or to operate your bank account if you're away overseas
or if you're ill). It does not apply if you are mentally
incapacitated.
An
enduring power of attorney operates in the
same was as a general power of attorney except that it applies
even if you are incapacitated (for example: if you are unable
to communicate after an accident or illness, or if you become
senile).
Why
have a power of attorney?
Having
a power of attorney allows you to choose who you want to
look after you financial affairs and to act on your behalf.
What
happens if you don't have a power of attorney?
If
you don't have a power of attorney and you become unable
to make your own decisions, the Public Trustee will be appointed
to manage your financial and personal affairs. The Public
Trustee will be able to make decisions about your property
and to charge you for these services.
Who
should you appoint as your attorney?
You
can choose who to appoint as your attorney. If you are married,
it is usual to name your spouse. It is also common to appoint
an adult child or children. You can appoint more than one
person if you wish. You should only appoint a person to
be your attorney if you are completely satisfied about their
honesty, integrity and common sense.
When
should you grant a power of attorney?
We
advise everyone to have a power of attorney. However it
is especially important to have one in place if you anticipate
being incapable of making decisions. A common example is
when you are expecting to become physically or mentally
incapacitated from an injury or illness. Another example
is where you are about to travel and will be unable to make
decisions relating to your affairs back at home.
Which
solicitors practise in this area?
Our
solicitors who practise in this area are:
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