Ever heard of a Power of Attorney (POA)? Basically it’s a document that gives a person of your choice (the ‘attorney’) the power and responsibility to act on your behalf in regards to your financial affairs.
There are two types of POAs to choose from. The first is a ‘General POA’ which allows the nominated person to act on your behalf if you’re temporarily absent, i.e. on a holiday or in hospital for an extended period of time.
The second is an ‘Enduring POA’ which allows the nominated person to act on your behalf if you are ‘legally incapacitated’, e.g. if you have become senile, or suffer from Alzheimer’s, or have suffered a medical emergency.
We know some of these legal documents sound rather depressing and perhaps you don’t think they’re necessary, but we believe providing your appointed person with the tools to make financial decisions when you are unable to, is really, really important.
If you’d like more information about POAs, or to make an appointment to have one drafted for a fixed fee, please contact our office on (08) 8410 9494, or email our family law Associate Lawyer Ellie Douglas, on email@example.com.
Adelaide Legal, Expect More.
Article written by Stefania Scarcella, Law Graduate Paralegal LLB