What is an Enduring Power of Attorney?
An Enduring Power of Attorney is a document that allows you to nominate someone to act as an "attorney" on your behalf. Depending on how the document is drafted the attorney may be able to make personal and financial decisions on your behalf. This allows the attorney to act in your place as if they were you. There are some restrictions.
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Can I have multiple attorneys?
Yes, you can have muliple attorney's and you can give them all different powers.
You can also give them the same powers but direct that they act jointly (i.e. all have to agree with the decision). You can also make it so they can vote if they disagree and the majority wins. It is also an option to set the power so they can all act severally (i.e. any one of them can make decisions).
When does a power of attorney start?
It is up to you when a power of attorney starts.
You can have it commence:
- immediately from when it is signed;
- from when you lose capacity; or
- on some other event.
When does a power of attorney end?
An enduring power of attorney does not end until your death. A general power of attorney can be created for a limited purpose e.g. the sale of a property, end on a specific date or any other event required (that is reasonably practical to add to the document).
