Elliot Tuthill Solicitors - Cronulla Sydney

INFORMATION ON POWERS OF ATTORNEY

What is a Power of Attorney?

A Power of Attorney is a document that appoints one person to act on behalf of another in relation to property, assets and financial affairs.

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Who can make a Power of Attorney?

Anyone over 18 years who is capable of understanding the nature and the effect of the document can make a Power of Attorney. Some elderly people are not capable of doing this. If their mental capacity is in doubt, an appropriate medical professional should assess the person's understanding.

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Who should I appoint as my Attorney?

Your Attorney should be someone who you trust and who understands the responsibility of the decisions they will have to make. Generally, people will appoint a family member or close friend.

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What is an Enduring Power of Attorney?

An enduring Power of Attorney is one that continues to operate even if you lose your mental capacity. If you don't want your Power of Attorney to be enduring, you can also elect to make an ordinary Power of Attorney which operates under limited conditions. For instance, some people will make an ordinary Power of Attorney if they are going overseas for a period of time and they need someone to look after their financial affairs during the time they are away.

In any case, the Attorney can only make those decisions which you specify in the document. For instance, you may only want your Attorney to pay your water and electricity bills.

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When does the Power of Attorney take effect?

You can now elect when you want the Power of Attorney to take effect. For instance, it can take effect as soon as your Attorneys acknowledge and accept their appointment by signing the document or it can operate when you can no longer handle your own affairs.

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What is the difference between a Power of Attorney and an Enduring Guardianship?

A Power of Attorney only grants a person the right to make decisions about your financial affairs, whereas the Enduring Guardianship allows a person to make decisions about your care and lifestyle.

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