Powers of Attorney Services
At Drinkwater Criminal and Family Lawyers, we understand the importance of planning for the future to ensure your financial affairs are managed according to your wishes. Serving clients in Forster, Taree, Newcastle and surrounding areas, our experienced legal team provides comprehensive assistance in creating Powers of Attorney, empowering you to appoint a trusted individual to manage your financial and legal matters should you become unable to do so.
Understanding Powers of Attorney in New South Wales
A Power of Attorney is a legal document that allows you (the 'principal') to appoint someone you trust (the 'attorney') to make financial and legal decisions on your behalf. This arrangement is crucial for ensuring that your affairs are handled smoothly in situations where you are unable to manage them yourself due to absence, illness, or incapacity.
Types of Powers of Attorney
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General Power of Attorney: This grants your attorney the authority to manage your financial affairs for a specific period or purpose. It is commonly used when you are temporarily unavailable, such as during overseas travel. Importantly, a General Power of Attorney becomes invalid if you lose mental capacity.
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Enduring Power of Attorney: This type remains effective even if you lose mental capacity in the future. It ensures that your attorney can continue to manage your financial affairs without interruption, providing long-term security and peace of mind.
Key Considerations When Appointing an Attorney
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Choice of Attorney: Select someone who is trustworthy, reliable, and capable of managing financial matters. This could be a family member, close friend, or a professional such as a solicitor or trustee organization.
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Scope of Authority: Clearly define the powers you are granting. You can choose to give broad authority or limit it to specific tasks, such as selling property or managing bank accounts.
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Timing: Decide when the Power of Attorney will commence. For an Enduring Power of Attorney, you can specify whether it starts immediately or only when you are deemed to have lost capacity.
Legal Requirements in New South Wales
To create a valid Power of Attorney in NSW:
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The document must be in writing and signed by you (the principal).
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For an Enduring Power of Attorney, your signature must be witnessed by a 'prescribed witness,' such as a solicitor, barrister, registrar of a NSW Local Court, or an accredited employee of NSW Trustee and Guardian.
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The prescribed witness must certify that you understand the effect of the document and are signing it voluntarily.
Our Legal Services
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Drafting Powers of Attorney: We assist in preparing clear and legally sound General and Enduring Powers of Attorney tailored to your specific needs and circumstances.
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Legal Advice: Our team provides comprehensive advice on the implications of appointing an attorney, helping you make informed decisions about the scope and nature of the powers granted.
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Review and Revocation: We offer services to review existing Powers of Attorney to ensure they remain appropriate and can assist in revoking or updating them as your circumstances change.
Why Choose Drinkwater Lawyers
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Local Expertise: With a strong presence in Forster, Taree, Newcastle, and surrounding regions, we have an in-depth understanding of the local legal landscape and community needs.
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Personalized Approach: We take the time to understand your unique situation, providing tailored advice and solutions that align with your objectives.
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Commitment to Excellence: Our dedicated team is committed to delivering high-quality legal services with professionalism and integrity.
Contact Us
Planning ahead by establishing a Power of Attorney is a prudent step in safeguarding your financial future. Contact Drinkwater Criminal and Family Lawyers today to schedule a confidential consultation. Let us assist you in appointing a trusted individual to manage your financial affairs, ensuring your interests are protected and your wishes are honored.
