A Power of Attorney is a legal document that gives a trusted person, the legal authority to act for you, and to make legally binding decisions on your behalf.

Why have a Power of Attorney?

In case of accident, sudden illness, planned or unexpected absence, or when you just can't cope, you may need someone to manage your financial affairs.

A Power of Attorney is particularly useful:

• to relieve yourself of the day to day demands of financial paperwork and record keeping;
• as a safety net when travelling or to allow someone to handle your affairs in your absence;
• to avoid burdening family or friends with the responsibility of looking after your affairs; or
• if you are unable to manage your prosperity or financial affairs.

Types of Powers of Attorney

General Power of Attorney:

• only valid while you have legal capacity;
• useful if you are going away for an extended period and you do not want the authority to continue should you 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 you lose legal capacity due to disability or illness;
• may empower your attorney to make financial, property, lifestyle and health decisions;
• may be activated when required or upon loss of legal capacity; and
• allows your attorney to commence or to continue to manage your affairs even though you have become unable to give lawful instructions.

What is "legal capacity"?

This relates to a person's ability to fully understand the nature and implication of the document they are signing.  It may relate to a person's state of mind or to their legal age (over 18 years).

Should any doubt arise about legal capacity, a medical report may be obtained confirming the person's ability to conduct his or her own financial affairs.