A Powers Of Attorney is a document that you give to the person you employ to do anything in law such as you can pay bills, buy and sell real estate or shares, open bank accounts can enter into litigation; enter nursing homes and hostel contracts. If you own or are likely to inherit the property, you must have an Enduring Power of Attorney. You never know when you might need these powers during your life. Any of us may suffer from a serious accident or a mental disorder that requires third parties to act on our behalf. It is important to consider appropriately whom you appoint. Who Should You Appoint? If you are in a long term relationship you usually appoint your partner or spouse. Otherwise, you employ two or more trusted friends. Those friends should be appointed to act jointly with appropriate safeguards if one of them resigns or dies or there is loss of cognition. In most cases, if you are appointing individuals of your own generation, you will appoint a supplementary Powers Of Attorney appointing two or more persons below you (your children or nieces and nephews). What Can Your Lawyer Do? Subject to any other provisions in the document, your lawyer may do anything for you with your consent, if you have a feeling. For example, you may be on a foreign trip and require your lawyers for money or similar transactions. If you lose your knowledge, then your lawyer can do any work on your behalf which is in your interest. This latter point is a primary point protecting your state of mind. Basically, subject to the document, your lawyer can do anything for you, which you can do lawfully yourself. For this reason, the Enduring Power of Attorney is a very powerful document. It should be carefully prepared and explained to you. Lawyers should trust the people you trust. In addition, the test of cognition for the person making the endorsing Powers Of Attorney is even stronger because of the statutory provisions for making VAT. Your experienced estate planning attorney will explain these matters to you. What If You Don't Have A Powers Of Attorney? The risks are real:
Recommendations You must have an Enduring Power of Attorney. We do not have off-the-shelf documents at Jackson & Associates Solicitors. Your Powers Of Attorney will be devised strictly to meet your needs. We will appropriately advise you as to the right person for the duties and appointment of your lawyer.
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Jackson Associates Solicitors Belair, South Australia in dealing with Wills, Powers of Attorney, Advance Care Directives and Probate, Deceased Estate Administration services in Belair, SA Archives
November 2020
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