A Power of Attorney is a legal document that allows another person or people the power to make decisions on your behalf. The decisions they make have the same effect as if you have made them yourself.
Financial Powers of Attorney allow the attorney to make financial decisions for you, for instance if you go overseas they can pay bills for you, manage your finances and investments or even sign financial documents such as Contracts of Sale. Medical Powers of Attorney specifically cover medical issues such as consent to treatment or whether Read more about What types of decisions?[…]
General Powers of Attorney are for when you are overseas or in hospital and can’t attend to general matters and they can even have an expiration date. The general Power of Attorney no longer has effect if you become mentally incapacitated. Enduring Powers of Attorney continue to have effect if you become mentally incapacitated due Read more about What is the difference between General and Enduring Powers of Attorney?[…]
Powers of Attorney can be tailored to suit specific circumstances such as the Attorney only has the authority to sign documents related to a purchase of a property, to attend investment board meetings or to pay your bills. Enduring Guardianships can specify what decisions can and can’t be made regarding management of your care. Some Read more about Can I limit what the Attorney can do?[…]
If you become incapacitated and you don’t have an enduring power of attorney or a guardianship, in some circumstances, the Victorian Civil Administrative Tribunal (VCAT) can appoint a qualified person to take over your affairs. However, the appointed person’s decisions may not be in accordance with your preferred wishes and the Guardian may charge a Read more about What happens if I lose capacity and don’t have a guardian?[…]