Power of Attorney

What is a Power of Attorney (POA)?

• Authorizes another person to act on your behalf, as if you had done the act or consented yourself

• Permits another person to deal with your financial affairs, real estate or other assets

• Ensure the person is someone you trust - they will be looking after your money, property and affairs

When to use a Power of Attorney?

• Business matter conducted while you are away

• Manage your share portfolio• Overseas on work or holiday• Real estate purchases, sales, mortgages or

leases• Buy or sell car or other assets• Legal documents signed on your behalf• In hospital for illness, baby, surgery, etc.• Can’t get to the bank, post office, etc.

Who should I choose as “Attorney”?

• Over 18yrs

• Relative or friend

• Trustworthy

• Understands nature of power granted

• Understands specific transaction required

How to Limit a Power of Attorney?

• Powerful document that grants another person your authority and is taken to be your consent to an act or documents agreed on your behalf

• Broad authority unless limited in the document

• Limit scope being specific in your description: time, purpose, subject to another’s consent, etc.

• But be careful not to limit authority too much

What’s an Enduring Power of Attorney?

• Power of Attorney (General): have mental capacity– Witness– Registration only with property transactions

• Enduring Power of Attorney: lost mental capacity– Specific wording requirement– Must be signed by Attorney accepting

power– Certificate to be signed by ‘prescribed

witness’– Must be registered

More Information?

• Go to our website: www.Legal123.com.au– Click Power of Attorney Form link– More FAQs and articles on Powers of

Attorney

• Purchase and download the easy-to-use Form– Easy to download, with no registration

required– Easy to understand, written in plain English– Easy to complete, with online video

instructions