Understanding the Role of a Power of Attorney
A Power of Attorney is a legal document that authorises a chosen individual, known as your attorney, to manage your financial and legal affairs. This can be particularly crucial in situations such as:
- Absence or Inability: Whether you're travelling, living abroad, or facing health-related incapacities, a Power of Attorney ensures continuous management of your affairs.
- Expert Financial Management: Appointing someone with the necessary experience and expertise to handle complex financial tasks, ensuring your assets and investments are well taken care of.
Responsibilities Granted to Your Attorney
The scope of a Power of Attorney includes significant financial responsibilities, such as:
- Signing legal documents on your behalf.
- Managing your bank accounts and handling bill payments.
- Conducting real estate transactions.
- Overseeing your investments.
- Collecting rent and managing rental properties.
It's important to note that in New South Wales (NSW), a Power of Attorney is restricted to financial and legal decisions. For decisions regarding healthcare, lifestyle, and medical care, you should consider appointing an Enduring Guardian.
Why Choose Hillcrest Family Lawyers for Your Power of Attorney Needs?
Our team at Hillcrest Family Lawyers offers expert guidance in setting up a Power of Attorney:
- Tailored Legal Advice: We provide bespoke advice to suit your specific needs and circumstances.
- Thorough Understanding of Legal Implications: Our expertise ensures that your Power of Attorney is legally sound and aligns with your intentions.
- Compassionate and Personalised Service: We understand the sensitive nature of these decisions and offer supportive and discreet services.
At Hillcrest Family Lawyers, we are dedicated to ensuring that your Power of Attorney arrangements are set up effectively, giving you confidence that your affairs will be managed according to your wishes.