Powers of Attorney

Positive Action Today To Safeguard Tomorrow

Power of Attorney Parramatta

A change in your life circumstances may make it challenging or impossible to adequately manage your affairs — Powers of Attorney permits a trusted friend or relative to look after these crucial day-to-day matters.

It can be difficult, and often upsetting, to consider a time when cognitive or physical wellbeing issues prevent you from fulfilling your usual duties and tasks such as banking, paying bills, and managing your investments. Yet, positive action today can deliver welcome peace of mind for tomorrow.

At Falzon Legal, we will guide you patiently and compassionately through the whole process. Explaining how the system works, the benefits to you, and the different types of Power of Attorney. Together, we will safeguard your future.

What Is Power of Attorney?

Power of Attorney (POA) is legal documentation that permits a third party to attend to your affairs on your behalf. The extent of the areas in which they can act, when, and for how long, is decided by you.

The reasons why you may be unable to manage your duties are varied, for example:

  • Travelling overseas — making it impractical to take care of matters at home in Australia.
  • Recovering from injury or illness — meaning temporarily you cannot pay bills or visit the bank.
  • Experiencing degenerative cognition — making it impossible for you to make important life decisions.

In legal terms, you, as the person bestowing Power of Attorney, are referred to as the Principal. And, the person who is allowed to act on your behalf, is the Attorney. This nominated third party is completely your choice — it can be a professional, relative, friend, or colleague. The importance is you both trust the person and believe they will make the correct decisions when you are unable.

As a responsible and considerate Power of Attorney lawyer, we recommend addressing the matter before it’s too late. Having this safeguard in place before you lose the ability or comprehension to arrange one prevents a tribunal or court from deciding who to appoint to manage your matters.

Does It Matter Who I Choose as My Attorney?

The decision is completely in your hands.

The person whom you select to be your Attorney should be of good standing, and someone who you consider to be responsible, trustworthy, and able and pleased to act in your best interests.

They willingly need to agree to take on the role, and it’s important that they fully understand the tasks, duties, and time commitment that stands before them. At Falzon Legal, we welcome meeting you and your prospective Attorney to delicately and honestly outline the possible responsibilities ahead. 

While your Attorney can be anyone, most usually they are:

  • A family member.
  • A close friend.
  • A professional — such as a solicitor or accountant.

We recommend taking some time to consider who would be best suited, agreeable, and dedicated to becoming your Attorney. When pondering over the question, we recommend you choose a person that:

  • Has some financial knowledge to deal with investments and taxes.
  • Shows you respect — in your religion, culture, views, values, and wishes.
  • Will act within the bounds of responsibility placed upon them.
  • Respects your confidentiality.
  • Will keep thorough records of any financial activities.
  • Ensure their finances are kept completely separate from your own.
  • Has the maturity, intelligence, and ability to act on your behalf.

Allow Us to Patiently Take You Through Choosing Your Attorney — Call Us Now

What Can Your Power of Attorney Do?

The permitted responsibilities are wide and varied, and can include such tasks as:

  • Managing your investments.
  • Operating your bank accounts.
  • Paying and enquiring about your day-to-day bills and expenses.
  • Purchasing and selling real estate.
  • Collecting rent on your behalf.
  • Signing legal documents.
  • Spending money on your behalf.

The extent of these powers is based upon the responsibilities you allow or prevent, and the type of POA you choose:

General Power of Attorney (Ordinary Power of Attorney)

These Power of Attorney documents permit a third party to make decisions and act for you — while you still have the ability to make decisions yourself.

This can be useful, for example, if you’re in hospital recovering from an illness but unable to address your personal affairs.

Or, perhaps, you’re finding that coping with financials and paperwork is beginning to overwhelm you somewhat at a later stage in life.

However, if you lose the mental capacity to make informed choices, this power is automatically revoked.

Enduring Power of Attorney

Enduring POA, unlike General, permits your trusted person to continue to act on your behalf if you lose the cognitive ability to make decisions.

As this can be arranged in advance — and only activates the moment you lose mental capacity — it can prevent future issues and conflicts. For example, should you be in a care facility, it’s possible some parties may raise concerns or doubts about your current ability to enter into Enduring POA.

Learn more about Enduring Power of Attorney.

Medical Power of Attorney

In NSW, there is no Power of Attorney for medical decisions (Medical POA) — sometimes referred to as health care Power of Attorney. The limited Power of Attorney entitlements encompass only financial, property, and investment matters. 

For all other affairs, including health care decisions, you need an Enduring Guardian (Enduring Power of Guardianship).

Need More Information on the Types of Power of Attorney? Speak to Us Now

Power of Attorney and Enduring Guardianship

While invoking Power of Attorney allows another person to manage your financial affairs, Enduring Guardianship permits your chosen friend or relative to make decisions relative to your health, wellbeing, and lifestyle.

It permits your selected Guardian to decide:

  • Where you should reside.
  • The personal and wellbeing services you should receive.
  • The type of medical treatment that can be administered.

Furthermore, you can outline your own specific wishes for medical care in an Advance Care Directive. This additional document states the treatment you should receive if — at a later date — you’re mentally unable to make a decision.

At Falzon Legal, we know that it can be challenging, and sometimes distressing, to consider that in the future, you may need healthcare decisions to be made on your behalf. Our supportive and considerate approach will guide you empathetically through this scenario.

Should You Make Financial Power of Attorney?

Power of Attorney is not an act of weakness or submission, resigning yourself to the fact that one day you will be unable to cope on your own. Instead, it’s a strongly proactive decision.

Older years, illness, and degenerating cognition can affect us all. Taking steps today means you’re taking control of your future — outlining your wishes, and the person you trust most to look after matters on your behalf.

Remember that General Power of Attorney can simply help your life run a little smoother and with less stress.  For example, you don’t have to worry about venturing to the ATM to obtain cash, or talking to a mobile phone provider about your contract — you can legally allow someone else to do this for you.

Enduring Power of Attorney takes away the risk of a tribunal or court deciding who is best suited to address your affairs when you’re unable — putting the choice back into your hands. It allows someone you select to rapidly take care of your matters, without delay.

Even when you have Enduring POA in place — you’re still always in control. You don’t lose any entitlement to manage your own cash, investments, property, or accounts — it only activates the moment you lose mental ability.

Can I Cancel My Power of Attorney for Property, Investments and Cash?

As long as you still have the cognitive ability, revoking Power of Attorney is possible at any time.

We are more than happy to take you through this simple process. All it requires is to inform, in writing:

  • Your chosen Attorney that the Power of Attorney is to cease immediately.
  • Banks, financial institutions, and others that may have been dealing with your Attorney.
  • The Land Registry Office of NSW — if a registered Power of Attorney.

The grounds for cancelling the document are wide and varied — such as your Attorney has passed on or become incapacitated, or your trust in the Attorney has waned or changed.

At Falzon Legal, we will sympathetically and tactfully assist you in revoking your Power of Attorney.

Falzon Legal — Your Compassionate Power of Attorney Lawyer

Planning ahead for the times when you may find it difficult, or impossible, to look after your affairs can be emotionally tough. At Falzon Legal, we will considerately and patiently guide you through the whole process.

Meeting together, including with your chosen Attorney if you wish, we can discuss how arranging Power of Attorney is a positive step — acting proactively to safeguard your future today.

Open, frank, and honest discussions are always preferable — that’s why we prefer to chat face-to-face. At our office, your home, senior residence, or health establishment — wherever is most convenient and relaxed for you.

Taking control of your future financial and lifestyle affairs today provides immense reassurance and peace of mind — speak to Falzon Legal today about the benefits of Powers of Attorney.

Power of Attorney FAQs

Is Enduring Power of Attorney Medical the Same as Power of Guardianship?

In NSW, Power of Attorney only permits your chosen third party to act on your behalf in financial matters. To have the responsibility to make decisions regarding your healthcare, they need Enduring Guardianship.

What Is the Power of Attorney Cost?

The price of Power of Attorney depends on your personal circumstances. At Falzon Legal, we ensure the costs are affordable, fair, and relevant to your requirements — speak to us.

Will Power of Attorney Take Away My Rights?

No. Even with Power of Attorney in place, you are still able to manage and control your own affairs — as long as you have the mental capacity to do so.

What Is Enduring Power of Attorney VIC?

As in NSW, Enduring Power of Attorney Victoria permits your selected Attorney to take responsibility for your financial decisions should your cognitive faculties prevent you from doing so yourself.

What Is Joint and Several Power of Attorney?

Should you appoint more than one Attorney to manage your affairs, joint and several refers to their ability to make decisions on their own (severally) or together (jointly).

What Is Company Power of Attorney (Corporate Power of Attorney)?

Just like an individual person, a company may appoint a trusted third party to look after its affairs — for example, if the sole director of a business is incapacitated and unable to authorise payments to suppliers.

What Is a Wills and Power of Attorney Lawyer?

A Wills and Power of Attorney Lawyer can both deal with inheritance and estate matters and advise and formulate Power of Attorney documentation. If you’re searching online for a Wills and Power of Attorney near me — you’ve found us. Call us today!

What Does Special Power of Attorney Mean?

In Australia, special Power of Attorney means the same as Power of Attorney. It is documentation that allows a third party to make financial decisions on your behalf.

Where Can I Find Power of Attorney Lawyers Near Me?

You don’t have to search online for a Power of Attorney solicitor near me! At Falzon Legal, we can meet you at your home, our office, or your place of medical care to discuss Powers of Attorney.

Organising Powers of Attorney Means Taking Control — Chat With Us Today