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Powers of Attorney
By thinking ahead and planning, you can ensure various aspects of your life will be managed just as you want. Your solicitor or trustee company can help you with detailed advice to appoint your attorney(s) and to complete the appropriate documents.
If you consider a person to hold a Power of Attorney for your financial affairs, it is strongly advised that this person is trusted by you without question. Please remember that your attorney will be able to make financial decisions on your behalf concerning banking, paying bills and buying or selling assets. However, it is your choice exactly what powers you want your attorney
to have.
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You can also consider someone to hold a Power of Attorney for medical treatment. Again, the person you nominate to hold this power should be someone you have confidence in and trust completely. Your attorney will have to give consent on your behalf for medical treatment to take place; and in certain circumstances can also refuse medical treatment.
For both of these instances, it is vitally important that the person you choose is well known to you and trusted without question. They may have to make major decisions on your behalf. Your attorney will have to sign a document stating they understand and accept the responsibilities.
In certain Australian states, you can cancel the powers contained in the document(s) by telling your attorney that this is your intention and signing a Revocation Deed. These documents are available from your solicitor.
There are specific laws concerning powers of attorney between the various states, so it is strongly recommended that anything connected with giving, changing or revoking a Power of Attorney is done in consultation with a solicitor.
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