A Power of Attorney is a document which you can enter into which will allow another person to act on your behalf in financial matters.
We believe this is an essential and critical document that everyone should have and believe that it holds the same level of importance as having a current and valid Will.
A Power of Attorney may be appointed for a specific period of time, such as when you are overseas and require a property transaction to be completed, or for an indefinite period of time, such as assisting an elderly parent or relative manage their financial affairs.
To have a Power of Attorney operate where a person loses their mental capacity an Enduring Power of Attorney will need to be created.
To enter into a Power of Attorney or Enduring Power of Attorney, you must be 18 years of age, meet capacity requirements and have your appointed person also execute the document.
A Power of Attorney documents ceases to operate immediately upon your death and your appointed person must not continue to act in that capacity after this time. It is also important to remember that you can revoke your Power of Attorney at any time should your circumstances change or you wish to change your instructions.
For a confidential discussion regarding your individual circumstances please contact our office.