A Power of Attorney is a document that operates during your lifetime and allows you to appoint an Attorney who is authorised to manage your legal and financial affairs on your behalf.
You can choose whether it operates immediately, or only if and when you are unable to independently manage your legal and financial affairs.
Your Attorney can manage your bank accounts and sign documents on your behalf. They cannot change your Will, or use the Power of Attorney to benefit themselves in any way.
Your Attorney should be someone who is trustworthy, and who can be available to assist you if required.
If you don’t have an Attorney appointed, your family will need to undergo an often lengthy and complex process of applying to be appointed your financial manager, which involves making an application to the Guardianship Tribunal at NCAT.
For more information on Power of Attorney contact Krystle Wolthers on (02) 4626 5077 or email Krystle on kwolthers@marsdens.net.au
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