Why do you need a power of attorney

Why do you need a power of attorney

What you need to know

An Enduring Power of Attorney (“EPA”) operates during a person’s lifetime and allows you to appoint a person or multiple people (“Attorney’s) to act on your behalf should you be unable to do so yourself. Examples of this can include making medical decisions on your behalf if you are incapacitated and unable to make these decisions for yourself due to illness or injury.

An EPA also permits your chosen Attorney to act on your behalf with regard to property and financial matters. An example of this may occur if you decided to purchase a property whilst overseas. Your Attorney could enter into that transaction on your behalf.

If you do not have an Enduring Power of Attorney, your loved ones may not be able to make decisions on your behalf should you be unable to do so for any reason.

It is important to note that a Power of Attorney needs to be registered with the ACT Land Titles Office before your Attorney will be able to enter into any property or significant financial transactions.

You need to ensure that your EPA has been made in the state or territory that you live in. The requirements for an EPA vary from state to state.
Get in touch on 02 6285 1344 today for more information or to book an appointment.
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