Posted on 10/09/2015
A power of attorney is a formal document giving another person the authority to make legally binding decisions on your behalf, both in relation to financial and/or health matters.
There are two types of power of attorney: general power of attorney and enduring power of attorney. A general power of attorney is used to appoint someone to make financial decisions on your behalf for a specified period or event. It is often used while you can still make your own decisions and ends once you no longer have capacity to make your own decisions. For example, you can use a general power of attorney if you are going overseas and you need someone to sell your house or pay your bills.
An enduring power of attorney is used to appoint someone to make financial and personal decisions on your behalf if you become unable to make your own decisions. You can revoke (cancel) an enduring power of attorney at any time.
To arrange a power of attorney or to obtain further advice, please contact Moloney MacCallum Lawyers on (07) 5532 0066.