At STOLaw, we provide legal advice in most areas of law. We have a large, experienced team of lawyers who will listen to you and help you with your case.
It is a common misconception that an Enduring Power of Attorney is only for an elderly person. A Power of Attorney however, is something everyone should consider to prevent unintended consequences caused by unforseen accidents or illness.
Powers of Attorney fall into two categories:
A GPOA only allows you to appoint a person to make decisions on your behalf for financial matters and is only valid if you have mental capacity.
An EPOA is similar to a GPOA however an EPOA:
Financial matters include matters relating to your finances or property. Examples include:
Essentially your attorney is able to do anything that you could lawfully do relating to financial matters.
Personal/health matters include matters relating to your care, health and/or welfare. Examples include:
There are some personal/health matters that your attorney is not permitted to make on your behalf.
Your attorney’s power to make personal/health decisions on your behalf only commences when you have lost the capacity to make these decisions yourself.
For financial matters however, you are able to decide when your attorney’s power to make financial decisions begins. For example, you may specify that your attorney can make financial decisions for you immediately, when you lose capacity or on a particular occasion (such as travelling overseas).
You may also include terms in the EPOA to restrict or enhance your attorney’s powers.
If you appoint more than one attorney, you must specify how decisions are to be made. For example:
Contact us today to answer any questions you may have about Powers of Attorney.