IT’S ABOUT POWERS OF ATTORNEY

A Power of Attorney is just as important as a Will. While a Will operates on your death, a Power of Attorney operates during your life.

WHAT IS A POWER OF ATTORNEY?

A Power of Attorney is a legal document authorising another person, such as a trusted friend or relative, to act on your behalf in your affairs. This person is known as your “attorney”.

It is a convenient method of allowing someone to handle your affairs if you go overseas; take an extended holiday; suffer injury or illness; or reach an age when you need greater assistance.

Knowing you have an attorney capable of dealing with your affairs when you are absent or infirm gives you peace of mind.

APPOINTING AN ATTORNEY

Your appointed attorney must be at least 18 years old; must not be your health care provider (for example your doctor); must not be a bankrupt; and must not be a paid carer (receiving a carer’s pension does not stop a person from being an attorney).

TYPES OF POWERS OF ATTORNEY

There are two types of Power of Attorney: a General Power of Attorney and an Enduring Power of Attorney.

GENERAL POWER OF ATTORNEY

A General Power of Attorney is usually used in a business context by a company or an individual.

It comes into effect on the date or occasion you select and you may limit the matters which your attorney may deal with. A General Power of Attorney becomes invalid when you lose your capacity to make decisions.

ENDURING POWER OF ATTORNEY

Under an Enduring Power of Attorney you may give your attorney the power to deal with all or any part of your financial, personal and health matters.

An Enduring Power of Attorney for financial matters comes into effect on the date or event (eg your incapacity) you elect and continues to operate even though you have lost capacity to make decisions.

Your attorney can deal with your financial affairs at the same time as yourself unless you specify otherwise.

For personal and health matters, your Power of Attorney comes into effect on your incapacity.

WHY HAVE AN ENDURING POWER OF ATTORNEY?

Everyone is at risk of accident or unexpected mental illness. If you lose your decision making capacity and do not have an Enduring Power of Attorney, your personal and business affairs may be handled by a government official, for a fee. You cannot make a Power of Attorney once you lose capacity.

PREPARING A POWER OF ATTORNEY

Speak with us about:-

• the type of Power of Attorney you require

• your choice of attorney and number of attorneys

• the scope of power given to your attorney

• when you would like the power to commence

To be valid, your Power of Attorney must be in the approved form and comply with strict witnessing requirements. We will make sure your Power of Attorney is valid.

YOUR OPTIONS IN PREPARING A POWER OF ATTORNEY

You can prepare your own Power of Attorney, but you do so at your own risk.

Strict legal requirements must be followed to ensure your Power of Attorney is valid.

The Public Trustee and some trustee companies offer Powers of Attorney for free on the condition that they are appointed your attorney. They will then charge fees on transactions carried out on your behalf.

We only charge you a one-off fee for preparing your Power of Attorney and you can choose your own attorney. You do not need to pay your attorney.

Ask us about the cost of preparing your Power of Attorney. You will be surprised at how inexpensive such an important document is!

REVOKING A POWER OF ATTORNEY

You can choose to revoke your Power of Attorney at any time. This must be done in a specific way to be valid.

Your Power of Attorney is automatically revoked:-

• on your death

• when you marry (unless your new spouse is your existing attorney)

• when you divorce (if your attorney was your spouse)

• when you appoint a new attorney with the same scope of power

• if your attorney dies or loses capacity

• if your attorney becomes unqualified eg. bankrupt or a paid health care provider

ADVANCE HEALTH DIRECTIVES

An Advance Health Directive allows you to give directions about your future health care in advance of losing the capacity to make these decisions.

It can include instructions to withdraw certain medical treatment designed to prolong life. Your Advance Health Directive only comes into effect after you have lost capacity (eg after you have been involved in a bad car accident, or are very ill).

Ask us about an Advance Health Directive when we prepare your Power of Attorney.

OUR SERVICE TO YOU

We appreciate the importance of your personal affairs. Throughout our relationship you will receive specialist guidance to assist you in your decisions. Our specialist Succession Lawyer will be responsible for preparing your Power of Attorney and will meet you personally to discuss your wishes. You will be kept informed every step of the way.

Your Power of Attorney is an extremely important document so choosing us as your specialist representative will ensure that this important personal document is given the attention it deserves.

OUR GUARANTEE

We guarantee professionalism, personal service and knowledge. If you are not 100% satisfied with the quality of our service, we will do whatever is necessary to guarantee your satisfaction.