Power of Attorney
If due to illness or any other reason you are not able to make decisions about your financial matters, a valid Power of Attorney is required for your trusted family member (s) to act on your behalf.
Power of Attorney is a legal document which enables you to appoint a trust person or persons as your attorney or attorneys to deal with your financial affairs on your behalf. You can limit the power given to your attorney to act only in the event of your subsequent legal incapacity by making an Enduring Power of Attorney or you can make a General and Enduring Power of Attorney to enable your attorney to act from the date of signing and during your incapacity.
In order for a Power of Attorney to be valid, it must comply with the legal requirements set out in the Powers of Attorney and Agency Act 1984 in South Australia and equivalent legislation in other Australian States and Territories. Legal capacity of the person who makes the document (“Donor”) is one of the key legal requirements. For example, in the event of a serious mental illness, a person may no longer have the legal capacity to make his/her Power of Attorney.
At DHLMC, we are here to help you make your Power of Attorney in time and cost-efficient manner. Dawood has assisted hundreds of South Australians with preparing their Power of Attorneys. In addition to his professional approach and expertise in the area of estate planning, Dawood brings passion and compassion in assisting his clients.
Contact us how we can help you with your Power of Attorney.
Frequently asked questions
A Power of Attorney must comply with the legal requirements. Without reviewing the document, it is difficult to say as to whether it complies with all the legal requirements.
If you have a valid Power of Attorney, then your attorney or attorneys will act on your behalf under the terms of your Power of Attorney. If you have not made your Power of Attorney and due to illness you have no longer legal capacity, your next of kin is required to lodge an application to South Australia Civil Tribunal in South Australia or equivalent jurisdiction in other Australian States and Territories to appoint an administrator.
No, as long as you have legal capacity, Power of Attorney does not affect your power in respect to your financial affairs. However, if you have lost legal capacity due to illness, then your attorney will act on your behalf by providing evidence of your legal incapacity to relevant financial institution such as your bank.
You are still required to have a Power of Attorney for your trusted person or persons to act in respect to your financial affairs. Your Advance Care Directive mainly covers you’re your wishes in respect to your general lifestyle matters such as your health, care and accommodation but it does not extend to your financial matters.