Powers of Attorney
If you were suddenly unable to make decisions on your own behalf or are unavailable due to travel for instance, who would make decisions for you? In cases like these, a Power of Attorney may come into place. A Power of Attorney is essentially a document by which you appoint one or more people and authorise them to manage your financial assets and legal affairs. The appointed person acts as a fiduciary, with your best interests in mind.
- Financial Power of Attorney
- Medical Power of Attorney
- Guardianship Power of Attorney
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Frequently Asked Questions
I already have a Will, Do I need a Power of Attorney?
These two types of documents are often confused by clients, however a Will is a different document to a power of attorney, and operates differently to a power of attorney.
Under a power of attorney, a person can provide authority to another person to make certain legal, financial and medical decisions on their behalf. Unlike a Will which commences operation upon the death of the will maker, a power of attorney commences either immediately, or upon the happening of a specified event. Also, the power of attorney will either continue for a specified period of time, or will continue until the death of the person giving the power of attorney.
Duffy & Simon can assist you in understanding what types of powers of attorney are relevant to your circumstances, and can advise you on any necessary conditions that should be included in these documents.
I Don’t Know who to Appoint as an Attorney – What do I Do?
In some circumstances, clients do not have family or friends that they are comfortable or confident in appointing to the position of attorney. It is important to understand the actions that an attorney is able to undertake on your behalf, prior to their appointment.
Duffy & Simon is able to assist you in deciding the most appropriate person to assist you in this way, which may include a trusted professional advisor who is willing to act as your attorney.