Some of us think that because we are in business together, or happily married, or looking after our ageing parent, that we can sign legal documents on their behalf. This is not correct. We can only do so if we are legally authorised through nomination under a Power of Attorney.
A Power of Attorney enables an authorised third party to enter into financial transactions, access bank accounts, investments and even buy and sell property for you when you are overseas, in hospital or are not able to act on your own behalf.
I&J LAW can assist with the following Power of Attorney services:
- Drafting your Power of Attorney and appointing your nominated, trusted person to sign documents and make financial decisions on your behalf when you are not able to.
- Reviewing your Power of Attorney.
- Revoking your Power of Attorney if circumstances have changed.
FAQs (Frequently asked questions)
Do you have to be over eighteen?
Yes, you also need to have mental capacity to enter into a legal document.
What is the difference between a General Power of Attorney and an Enduring Power of Attorney?
An Enduring Power of Attorney is effective even if you lose mental capacity, whereas a General Power of Attorney is more limited.
Can I appoint more than one attorney ?
Yes. You can appoint more than one attorney jointly or severally, which means you can decide if you want your attorneys to act together or separately.
What if I no longer trust the attorney?
It is vital that you revoke the Power of Attorney under these circumstances so the attorney no longer has this authority.
Does my attorney have to be a lawyer?
No. For these purposes an attorney can be any legally competent person over the age of eighteen.