General Power of Attorney –
- only valid while the principal has legal capacity;
- useful if a person is going away for an extended period and does not want the authority to continue should they lose legal capacity; and
- usually drawn up for a specific purpose with specific or general powers.
Enduring Power of Attorney (EPA) –
- continues to be valid even if a person loses legal capacity due to disability or illness;
- may empower the attorney to make financial and property decisions;
- may be activated when required or upon loss of legal capacity; and
- allows the attorney to commence or to continue to manage a person’s affairs even though they have become unable to give lawful instructions.
A Power of Attorney can be tailored to meet specific needs. Limitations can be inserted, restricting the power by time (how long it is to operate), by reference to a particular transaction (e.g. a sale or purchase) or to particular acts (e.g. signing on bank accounts).
In the absence of a duly appointed Attorney, should you become unable to manage your legal or financial affairs it may be necessary for a Government Tribunal to appoint a Trustee to make decisions for you.
If the Power of Attorney is to be used for dealings with land then the Power of Attorney must be registered at the NSW Land Registry Services. We can attend to this on your behalf.
A Power of Attorney cannot be used by the attorney to make health and lifestyle decisions on behalf of the principal. If you want these types of decisions covered, then you should appoint an enduring guardian.
Contact us to arrange an appointment.