“Power of attorney” is a very commonly used phrase, but also often not properly understood. Basically, a person would appoint a power of attorney if they are in, or anticipate being in, circumstances that limit their ability to deal with their affairs. Examples include being sick or incapacitated or being overseas during a legal transaction.
There are two types of power of attorney: a general power of attorney and an enduring power of attorney.
General Power of Attorney
A general power of attorney provides a nominated person with authority to manage your legal and financial affairs, including land dealings, for a short period whilst you are unavailable (for example, if you are going overseas), or in relation to a specific one-off transaction.
Importantly, a general power of attorney ceases and automatically terminates in the event that the person who appointed the attorney loses mental capacity.
Enduring Power of Attorney
An enduring power of attorney provides a nominated person with authority to manage your legal and financial affairs, including land dealings, even in the event that you lose mental capacity to manage your own affairs.
Registering Powers of Attorney
A power of attorney, whether a general power of attorney or an enduring power of attorney, must be registered in order to permit the attorney to deal with real estate, including the ability to sell, lease, or mortgage real estate.
Enduring Guardianship
An enduring guardianship provides a nominated person with authority to make lifestyle and health and medical decisions on your behalf in the event that you do not have capacity to make such decisions yourself.
Powers of attorney and enduring guardianships are extraordinarily powerful documents, and you should seek legal advice in relation to all of the above when considering your particular needs.
Please feel free to contact me to discuss any of the above, including preparation of your wills, power of attorney, enduring power of attorney, or enduring guardianship. Stonebraker Lawyers offers all these services (and others) at fixed-fee rates.
Johnathan Stonebraker
Principal, Stonebraker Lawyers
Email:office@stonebrakerlawyers.com.au
Telephone: 02 4580 7170
Offices at Level 1, Old Hawkesbury Hospital, Windsor
Please note that the above is provided by way of general comment only and is not to be considered as legal advice in respect of your particular situation or needs. Please feel free to contact Stonebraker Lawyers for legal advice in respect of any of the above.
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