A Power of Attorney enables a person to appoint a person/s to act for them in circumstances where they are ill, travelling overseas or are worried that they will become mentally incapacitated in the future. It authorises the appointed attorney to deal with a person’s financial affairs including the buying and selling of property and operate bank accounts.
The Power of Attorney does not relate to personal medical lifestyle decisions as these are covered by a separate document known as an Enduring Guardian (see Enduring Guardian).
If you do become mentally incapacitated in the future and you do not have a Power of Attorney then it will be necessary for your loved ones to apply to the Guardianship Board to be appointed as your attorney and of course there is no guarantee that those persons whom you may wish to look after your financial affairs will be appointed. Often the Guardianship Board will appoint someone within their department to look after your financial affairs.
It is imperative that you make a Power of Attorney prior to any mental incapacity. Should you wish to discuss Power of Attorneys please do not hesitate to contact us on 02 4228 5911.