Powers of Attorney
A Power of Attorney allows another person to operate and manage your financial affairs if you become incapacitated or if you are holidaying overseas.
An attorney appointed under an enduring Power of Attorney can make financial decisions on your behalf, for example disposing of assets, such as a house, or operating your bank account.
If you do not have the capacity to make these decisions you can appoint someone you trust to make them for you.
You can also appoint your Power of Attorney to financially look after those loved ones who are still dependent on you and even appoint them to continue buying Christmas and birthday presents for those close to you.
Your attorney is limited to use your finances for as much or as little as you want. It’s your decision.
The NSW Legislation governing enduring Powers of Attorney is the Powers of Attorney Act 2003.
Other states and territories of Australia have their own legislation governing enduring Powers of Attorney.
The Powers of Attorney Act 2003 came into force in February 2004. It made some important changes to the law about Powers of Attorney, particulary enduing Powers of Attorney.
An Enduring Guardian can make personal decisions on your behalf, such as where you should live, medical treatment you should receive, and services you should receive.
An Enduring Guardian ensures that you have someone close to you making health and lifestyle decisions when you no longer have the capacity.
You can appoint more than one Guardian and those Guardians can act jointly or severally.
Your Guardian can have as many powers as you appoint them so you can feel at ease to know that they can only act in your best interests.
The NSW legislation governing Enduring Guardianship is the Guardianship Act 1987 which gives powers to the Guardianship Tribunal and they power to appoint a guardian if it is found necessary and that person may not be your first choice.
Other states and territories of Australia have their own legislation governing Enduring Guardianship.
An Enduring Guardian appointed in NSW can only make decisions when the person under the guardianship is in NSW.
If you are planning to be in another state or move around, you should consider appointing an Enduring Guardian in each of those states/territories.
NSW recognises Enduring Guardians or their equivalents appointed in the other states and territories of Australia.
Lawlers Solicitors and Conveyancers offers a fixed price for preparation of a Power of Attorney & Enduring Guardianships.
We also offer a package deal when you instruct us to draft a Will, Power of Attorney and Enduring Guardian.
Please contact us for more information on our packages or to arrange a consultation.