Powers of Attorney

Border Powers of Attorney lawyerPowers of Attorney allow people who you trust, to make decisions on your behalf.

Powers of Attorney are important documents and should only be effected after careful consideration.

We often hear instances of such powers being inappropriately used, which can lead to a vulnerable person losing all of their assets. It is therefore important to ensure that the powers are actually needed and that you trust the person you appoint as your attorney to act in your best interests. There are often appropriate alternatives to Powers of Attorney that should be discussed.

Whilst it is important to be cautious about effecting a Power of Attorney, it is equally important to be aware that for the power to be valid,  the donor must have capacity to make decisions on their own behalf at time that the power is made. Powers effected by persons who are incapable are invalid and are able to be challenged by disgruntled family members.

What Types of Powers of Attorney are there?

VIC

In Victoria there are four types of Powers of Attorney:

General Power of Attorney

This power may be used by the attorney to make financial decisions on behalf of the donor, however this power does not endure past the donor losing the capacity to make their own decisions.

Enduring Power of Attorney

This power may be used by the attorney to make financial decisions on behalf of the donor, and this power endures past the donor losing the capacity to make their own decisions.

This power may have limitations (such as only to be used to pay for medical bills or only with regard to the sale of property).

A donor of an Enduring Power of Attorney may also determine when the power commences, which may be immediately, on or between certain dates, or upon a certain event occurring such as when the donor loses the capacity to make decisions for themselves.

Enduring Power of Attorney (Medical)

This power allows the attorney to make medical decisions on behalf of the donor when the donor is unable to do so.

Enduring Power of Guardianship.

This power essentially allows an attorney to make the type of decisions a parent can make about a child such as where the donor lives, what type of activities the donor participates in and who can and cannot see the donor. Such a Power is important when adult children of an elderly person (who is incapable of making their own decisions) may disagree about where their parent is to reside.

NSW

For New South Wales residents there are three types of Powers of Attorney.

General Power of Attorney

This power may be used by the attorney to make financial decisions on behalf of the donor, however this power does not endure past the donor losing the capacity to make their own decisions.

Enduring Power of Attorney

This power may be used by the attorney to make financial decisions on behalf of the donor, and this power endures past the donor losing the capacity to make their own decisions.

This power may have limitations (such as only to be used to pay medical bills or only with regard to the sale of property).

A donor of an Enduring Power of Attorney may also determine when the power commences, which may be immediately, on or between certain dates, or upon a certain event occurring such as when the donor loses the capacity to make decisions for themselves.

Enduring Power of Guardianship.

This power may be used by the attorney to make both medical decisions on behalf of the donor as well as decisions which a parent may make about a child, such as such as where the donor lives, what type of activities the donor participates in, and who can and cannot see the donor. Such a power is important when adult children of an elderly person (who is incapable of making their own decisions) may disagree about where their parent is to reside.

Contact us for a quote preparing Wills and Powers of Attorney on your behalf.

 

What do I need to consider when making Enduring Powers of Attorney?

When considering a Power of Attorney, other than carefully considering who your attorney should be, it is important to consider:

  • When do you wish for the power to commence?
  • Do you wish to appoint one or two attorneys?
  • If you appoint more than one attorney, do you want for your attorneys to be able to exercise their power jointly or severally?
  • What (if any) limitations do you wish to place upon your attorney’s power? Do you wish for your attorney’s power to be limited to the payment of medical bills or perhaps only with regard to the sale of a particular asset?
  • Do you wish for the power to endure past the event of you losing capacity to manage your own affairs (i.e you are in a coma or suffer from dementia)?
  • Would you like for your attorneys to be able to provide themselves with gifts and/or their own reasonable living expenses?

How much do Powers of Attorney Cost?

Each Power costs $220.00 including GST.

Clients receive a discount depending upon the number of documents required.

Scroll to Top