Powers Of Attorney
Powers of Attorney will ensure that, if you become unable to make decisions about your finances, your medical treatment or living arrangements, then the person/s whom you trust to make these decisions can do so.
First Class Legal can help you with Powers of Attorney. The most common types of Powers of Attorney in Victoria are:
- A General Power of Attorney where you appoint someone to make financial and legal decisions on your behalf. This type of power of attorney ceases to have any effect if you become incapable. This type of power of attorney is often limited by a specific time period and/or purpose. For example, if you are going overseas and need someone to manage your financial affairs whilst you are away or to sign an auction contract on your behalf.
- An Enduring Power of Attorney is used to appoint someone to make legal and financial decisions for you. This can operate from the date you sign it (and the Attorney accepts the appointment) or it can be limited to operating only in the event that you lose the capacity to make those decisions yourself.
- An Enduring Power of Attorney (Medical Treatment) is used to appoint someone to make medical treatment decisions on your behalf if you cannot make them yourself.
When should I make a Power of Attorney?
Before you need it! These documents safeguard your interests in the event of something unforeseen – an accident or illness that robs you of your capacity to make decisions for yourself.
It is better to be prepared and confident in knowing that the person you choose will be making important decisions about your money, your living arrangements and your health.
When does it start?
For a General or Enduring Power of Attorney, it begins when you nominate that it should.
Powers of Attorney (Medical Treatment) only commence when you are unable to make your own decisions.
What happens to any Power of Attorney if I die?
A Power of Attorney ceases on death. Your Will (or the laws of intestacy if you have no Will) then apply.
Do I need a witness?
A General Power of Attorney does not need to be witnessed but both the financial and medical treatment Powers of Attorney need to be witnessed by a person capable of witnessing an Affidavit eg a solicitor.
Can I change my mind?
Yes. As long as you still have the decision making capacity to do so, you can revoke a Power of Attorney. This has to be done properly, however, so please seek legal advice.
Please Contact Us at First Class Legal to find out more, or to arrange an appointment.
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