Powers of Attorney can be as important documents as Wills. Powers of Attorney allow a nominated person or persons to perform various functions on your behalf. Such functions could include dealing with your finances or health matters if you are incapacitated or simply making decisions on your behalf in your absence. Powers of Attorney can be for a single event, for example, signing a document whilst you are on holidays or alternatively for an indefinite period.
There are two types of Power of Attorney:
A General Power of Attorney is used to give someone the power to make financial decisions for you when you are away such as overseas and need someone else to sell your house or meet other financial obligations. An Enduring Power of Attorney is generally used to put in place a person who can make decisions for you if there comes a time that you are unable to make decisions for yourself, usually due to illness or an accident. A decision of your attorney has the same effect as if you made the decision yourself.
You will need to register the Power of Attorney in Queensland with the Land Titles Office if the attorney is buying or selling land on your behalf. You are able to revoke a Power of Attorney at any time. There are instances where a Power of Attorney will come to end as well, such as if you get married, divorced, or die, so you need to keep in mind that changes may need to be made in certain situations or new powers prepared.
If you are considering signing an Enduring Power of Attorney you may also want to draft or update your Will.
Additional estate matters we can you assist with include Applications for Grant or Probate or Letters of Administration and contesting a Will.
It is essential you have experienced solicitors when signing a General or Enduring Power of Attorney. If you would like to put this important document in place our estate administration team can offer you advice to ensure your rights are protected.
Aitken Whyte Lawyers Brisbane
2/414 Upper Roma Street
Brisbane QLD 4000