In today’s world, planning for an unknown future is something of increasing importance. The reality of your future may involve an accident or illness that takes away your capacity to make your own financial, medical, and residential decisions. To help safeguard your future, appointing a trusted person to help you make those decisions, as you would have, will give you the confidence to continue living life to the fullest.
When you are unable to make important decisions for yourself, and you have appointed a trusted friend or relative as your Attorney, they are legally allowed to make those decisions for you. They are required to sign a legal document that gives them certain decisional powers over your financial, personal, and medical affairs so that your money, property, and well-being are cared for in a way you approve of.
There are different types of power of attorney for different decisions.
You are free to make the decision of who your Attorney(s) are, you are even allowed to appoint multiple attorneys with different designations on how decisions are made.
Generally, a spouse, partner, relative, or close friend is chosen as someone’s Attorney, however, it’s important to consider that this person must: act in your best interest, make the same decisions you would, keep accurate records of their decisions on your behalf, avoid conflicts of interest and keep your finances and property separate to their own.
You can limit their range of power by choosing the tasks they are responsible for and which they aren’t; you can also appoint more than one so that they must make joint decisions or majority decisions. It’s also possible to appoint a backup in case your primary appointed Attorney is unavailable.
An Attorney’s duties begin when they are designated to. You can have them commence immediately
after the Power of Attorney document is signed, at a certain time or on the occurrence of a certain event.
If you choose for the Attorney’s powers to start on a specific date, or event, they cannot make decisions before that occurs.
An Attorney may also be required to provide evidence that you are no longer able to make decisions on your own behalf – this can be in the form of a medical certificate or letter from a medical professional.
Appointing an Attorney can be completed in four steps:
There are a few reasons why an Attorney is no longer required to make decisions on your behalf:
If you need assistance appointing an Attorney or have any questions on how to go about appointing one, Stuart and our Legal team are here to help you at any stage. Take control of your future and live life to the fullest. Contact us on 03 5224 2245 or firstname.lastname@example.org.