Establishing a Power of Attorney (PoA) in Australia is essential to guarantee that your financial, medical, and personal affairs are managed according to your wishes if you cannot do so yourself. Below is a comprehensive step-by-step guide to lead you through the process:
Understand What a Power of Attorney Is
A Power of Attorney is an essential legal document granting another individual (the attorney) the authority to decide on your behalf. There are different types of PoA in Australia:
- General Power of Attorney: For specific purposes and periods.
- Enduring Power of Attorney: Remains in effect even if you lose mental capacity.
- Medical Power of Attorney: Allows the attorney to make medical decisions on your behalf.
Choose the Right Type of PoA
Determine which type of PoA suits your needs. An Enduring Power of Attorney is appropriate if you want your attorney to manage your affairs if you lose capacity. Having a Medical Power of Attorney for medical decisions is really important.
Select a Trustworthy Attorney
Select a trusted individual, such as a family member, close friend, or qualified advisor, who can assume this responsibility.
Discuss Your Decision with Relevant Parties
Discuss your decision with your chosen attorney and other family members. Make sure everyone understands your wishes and the responsibilities involved.
Obtain the Appropriate Forms
Each Australian state and territory have specific forms and requirements for setting up a PoA. You can usually obtain these forms from the relevant government websites or a legal practitioner.
Complete the Forms
Carefully fill out the forms, providing all required information. This typically includes:
- Your details.
- Details of your attorney.
- The specific powers you are granting.
- Any conditions or limitations.
Sign the Document
You must sign the document in the presence of a qualified witness. Witness requirements can vary, but generally, a legal practitioner, justice of the peace, or notary public is acceptable.
Have the Document Witnessed
Your attorney must also sign the document, and their signature must be witnessed. The witness should ensure that both you and your attorney understand the nature and effect of the document.
Store the Document Safely
Once completed, store the original PoA document in a safe place and provide copies to your attorney, relevant family members, and any financial institutions or healthcare providers who need them.
Review and Update as Necessary
Review your PoA regularly to ensure it still reflects your wishes and circumstances. Update the document if your situation or your attorney’s status changes.
Additional Tips:
- Seek Legal Advice: It’s advisable to consult with a legal professional to ensure the PoA is correctly drafted and legally binding.
- Consider a Backup Attorney: Appointing an alternate attorney can ensure continuity if your primary attorney cannot act.
Creating a Power of Attorney is a proactive measure to protect your future. Following these steps guarantees that your desires will handle your affairs, offering reassurance for you and your loved ones. Contact VK Lawyers for more information or assistance preparing a PoA.