- March 25, 2015
- Category: Latest
Formally or informally speaking, life indeed is uncertain. An individual’s decision taking capability may be at its prime or otherwise, but one cannot say for certain upto how long. Also bearing in mind the hectic work schedules, it can at times be impossible to be physically present in crises that involve health, property or finances – this why the legal framework has accommodated an instrument known as the power of attorney. A power of attorney is a legal document in which one person nominates and gives legal authority to another to act on affairs on their behalf. Managing an individual’s affairs can be delegated to a person he or she trusts.
The person to whom this power has been entrusted to needn’t be a lawyer and is termed as the agent. The person who consensually delegates this power is termed as the principal. The power of attorney is a document that is fairly unique to each individual, as the ongoing circumstances and required responsibilities will differ person to person. They can be used to conduct important duties that include formal voting, transactions related to property, performing operations related to bank accounts and more by another individual within Australia while the principal is overseas.
There are two primary categories of power of attorney, namely the General Power of Attorney and the Enduring Power of Attorney. The general power of attorney is delegated by a principle in the event of him or her being unavailable to manage legal affairs back home. These decisions include legal and financial issues for a stipulated period of time and are nullified upon the principal being deemed unsound mentally.
The enduring power of attorney is functional even in circumstances that involve the loss of mental capability of the principal, allowing the agent to perform actions on his or her behalf. In the case of financial authority, power can be allotted to an agent in event of the principal becoming either incapable of sound decision or being unavailable. Medical authority provides legal attestation to the fact that an agent can dictate decisions pertaining to medical treatment, such as agreement or refusal of surgery or any other medical practice.
Whilst deciding the perfect suitor for a prospective power of attorney, it is extremely important to understand the implications and consequential results of appointing an agent. If the principal is found to not fully understand the gravity of his actions, the power of attorney is legally invalidated. It is therefore thoroughly recommended to act on this while living in the prime ages.
The decision to create a power of attorney is something that will benefit an entire family, in the case of any adverse mishaps. A trustworthy individual who can undertake formal proceedings pertaining to legal and medical issues is recommended to be appointed as an agent. It is best recommended to undertake legal assistance, for authority grants vary across states and territories in Australia. Law firms such as Webster Lawyers can offer expert advice on the optimum power of attorney requirement for an individual. This is in addition to the soundlegal advice provided by them on issues pertaining to family law as seen on their website:
Share this article: