Powers of Attorney will step into your shoes to make decisions and conduct your affairs in your best interests if you are unable to.
A Power of Attorney is a document under which a substitute decision maker is appointed to make decisions on your behalf in relation to your legal and financial affairs. It is certainly reassuring to know that you have appointed someone you trust to make decisions relating to your legal and financial affairs if because of injury, illness, or temporary absence, you are unable to do so yourself.
If you lose capacity In the absence of a valid Power of Attorney the decision as to who will manage your financial affairs may well be taken from you and exercised by the NSW Civil and Administrative Tribunal. That may mean the appointment of someone you do not want as your financial manager including the NSW Trustee and Guardian.
Powers of Attorney are not one size fits all. Circumstances are different from one person to another, and you need to know that your Power of Attorney does what you want it to when you want it to. That may mean limiting your Attorney’s powers where necessary, having checks and balances in place to ensure the power is not abused, and ensuring that the Power of Attorney operates only when you are unable to make decisions for yourself as certified by a medical practitioner.
It is extremely important that your lawyer understands your circumstances, the structure of your financial interests and assets and liabilities, the demands and dynamics of your family relationships, and is satisfied that you both have the capacity to understand and approve the making of the Power of Attorney but also ensure that your interests are protected by appointing the right person and imposing only those restrictions necessary to protect your interests and secure your property.
It is extremely important that your lawyer understands your circumstances, the structure of your financial interests and assets0 and liabilities, the demands and dynamics of your family relationships, and satisfies that you both have the capacity to understand and approve the making of the Power of Attorney but also ensure that your interests are protected by appointing the right person and imposing only those restrictions necessary to protect your interests and secure your property.
This Service Includes
- An initial meeting to comprehensively investigate your circumstances and discuss the purpose of the proposed appointment
- Where necessary, investigate your asset structure, SMSF and business interests to ensure the proper drafting of the Power of Attorney
- Where necessary, make external enquiries where there is as suspicion of potential abuse by a family member or acquaintance, and obtain medical evidence where there are questions about capacity
- Draft your Power of Attorney to meet your specific needs
- Attend on you to explain and execute the Power of Attorney
- If necessary, attend on your appointed attorneys to explain their roles prior to acceptance
- Periodic follow up as to a potential change in circumstances
You need to speak with a highly experienced lawyer to ensure your interests are protected. Book via the button below or call us today.
