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A power of attorney is document giving someone you trust, the ability to attend to (and complete) legal and financial transactions on your behalf when you cannot complete them yourself, whether that be due to incapacity, being absent, being incarcerated etc.
The person giving this power is called the “principal,” and the person receiving it is the “attorney.”
It is important to recognise that your next of kin does not automatically become responsible nor are they able to make legal and financial decisions on your behalf. Without a Power of Attorney appointing them as your Attorney they would have to make an application to NSW Civil and Administrative Tribunal to be appointed as your representative, which may take a considerable time.
We are all uncertain about what the future may bring. In any scenario, a Power of Attorney can streamline the handling of your legal and financial matters when you’re unable to do so yourself. It’s important to note that a Power of Attorney cannot be established if an individual lacks mental capacity. Such incapacity could arise due to circumstances like accidents, illnesses leading to impairment, such as strokes, dementia, or other medical conditions. Consequently, it is advisable to proactively plan your Power of Attorney while you are of sound mind, enabling you to carefully consider who you want to appoint and the specific responsibilities they will assume on your behalf.
Should you or a family member require a Power of Attorney, please contact our office on 9653 9466.
Disclaimer
The content of the Anderson Boemi Lawyers website is provided for information purposes only. The contents of this website do not constitute legal advice and should not be used as such. Formal legal advice should be sought in particular matters. If you have a particular matter you need legal advice for, or you have any questions about our disclaimer please contact our office on (02) 9653 9466.