Powers of Attorney
A power of attorney is a document appointing someone to make decisions on your behalf or sign documents for you. You need to think carefully about who you give this power to.
There are various types of power of attorney. The most common type is the enduring power of attorney (EPA) which is flexible and will allow the person you have named to continue acting even if you are no longer able to make decisions for yourself. An EPA is an important document in which you name a person (called your attorney) who is to have power to act on your behalf and make decisions for you if you become incapacitated. In some cases, two or more people may be appointed.
ENDURING POWERS OF ATTORNEY STRUCTURES
There are two different types of Enduring Powers of Attorney:
Your Property Enduring Power of Attorney
Your property enduring power of attorney relates to all things financial. For example, but not limited to, managing bank accounts, bills and dealing with property title matters.For your property power of attorney, you can appoint more than one attorney to act at any one time. If you do decide to appoint more than one person, you will need to decide whether your Attorneys can only act jointly, or whether they can act jointly and severally.
Jointly and severally allows your Attorneys to act jointly and individually. This may mean only one signature is needed instead of two and therefore can be a better option in terms of practicality.
Your Personal Care and Welfare Enduring Power of Attorney
Your personal care and welfare enduring power of attorney relates to your health matters. For example, but not limited to, communicating with doctors, deciding on the best health care for you and making rest home decisions.
You are only able to appoint one personal care attorney to act at any one time. However, you are able to appoint a successor attorney which would come into effect if your primary attorney was unable to act.
Other options available that you may wish to consider:
A duty to consult: Does your Attorney(s) have a duty to consult with certain people before they make a decision. Your Attorney must consult with anyone you list, however the final decision will be with your Attorney(s)
A duty to inform: Does your Attorney have a duty to provide information about their decisions to certain people if requested. This is usually information about decisions after they have been made and therefore is the lesser duty when compared to the duty to consult.
Whether you wish to appoint successor attorneys if your primary attorney cannot act. For example, if your first appointed attorney has passed away, or is incapacitated themselves, your successor attorney appointment would come into place. There is also an option to appoint second successor attorneys if you wish.
For each appointed attorney, we need the following details:
a) Their full name
b) Postal address
c) Phone number
d) Email address
e) Their relationship to you (husband, daughter, sister, friend etc.)
All of your attorneys, including your successor attorneys, will need to sign your Enduring Power of Attorney form(s).
If you have any questions as to the above, please do not hesitate to contact us. We look forward to assisting you with your Enduring Powers of Attorney.
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Read our Guide to Enduring Powers of Attorney article.