Have you ever stopped to consider what would happen if you were suddenly unable to make decisions regarding your own welfare, or your financial affairs?
If you are travelling internationally for extended periods of time, or have to travel frequently for work, you may find that you need someone here in Australia to handle your business and financial affairs in your absence. Appointing an Attorney that you trust to make financial decisions, or sign important documents on your behalf, can provide the peace of mind you need to know that your financial affairs are being well-looked after.
Your Will does not give your nominated executor authority to sign documents for you while you are alive. A separate document is required to give someone the power to make financial decisions for you while you are alive. This document is called a Power of Attorney.
Please note that your partner is not automatically authorised to make financial decisions for you unless you have legally authorised him or her to do so. Your Attorney’s authority can be made unlimited or conditional, to say, selling a property,
If you become incapacitated and haven't appointed an Attorney, the Guardianship Tribunal may appoint someone to make financial decisions for you. The person appointed by the Guardianship Tribunal may not necessarily be someone you would have chosen.
Click here to down load an Instruction Sheet for a Power of Attorney.
Similarly, in the event that you are suddenly unable to make decisions regarding your own welfare and/or medical treatment, you need to know that someone you trust can make those decisions on your behalf. An appointment of an Enduring Guardian allows the person of your choice to make those decisions, legally. Without such an appointment, your welfare can be placed in the hands of strangers or medical professionals who may not be aware of your personal wishes. It is however critical that the documentation is signed prior to any physical or intellectual incapacitation.
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Click here to down load an Instruction Sheet for the appointment of an Enduring Guardian.
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