Powers of Attorney

In Victoria, a power of attorney (POA) is a legal document that allows an individual to appoint someone else to act on their behalf in financial and legal matters. An enduring power of attorney (EPOA) is a more specific type of POA that remains valid even if the person who granted it becomes incapacitated. These documents form an important part of your estate planning, enabling you to appoint somebody you trust to step in and help in the future, should the need arise.

Power of Attorney

The power of attorney allows an individual to choose someone to manage their financial affairs, such as paying bills, accessing bank accounts, and managing investments, while they are still capable. The appointed person, known as the attorney, has a fiduciary responsibility to act in the best interests of the individual who granted the POA.

It is important to note that a POA can only be granted while an individual still has the mental capacity to do so. Once a person becomes incapacitated, they are no longer able to grant a POA, and it may be necessary to obtain guardianship through the Victorian Civil and Administrative Tribunal (VCAT).

In Victoria, there are specific rules around the appointment of attorneys, and it is important to seek legal advice to ensure that the document is valid and legally binding. There are also different types of POAs available, such as general or limited POAs, and it is important to choose the right type of POA for your situation.

Enduring Power of Attorney

An EPOA allows an individual to appoint someone to make decisions on their behalf about personal matters (such as living arrangements), or financial matters, or both, if they become incapacitated. This type of POA is particularly useful for older adults or those with chronic illnesses who may need assistance in managing their affairs. Like a POA, an EPOA can only be made when the individual still has mental capacity.

Enduring Power of Guardianship

An enduring power of guardianship (EPG) is a legal document that allows a person to appoint someone else to make personal and lifestyle decisions on their behalf if they become incapacitated. This can include decisions about healthcare, living arrangements, and other personal matters. It also gives the guardian the right to speak to health professionals about the appointor’s medical situation, and to make the decisions necessary to carry out their wishes in regard to medical treatment options.

An EPG can only be granted if the person giving it is over 18 years old and has the mental capacity to do so. The appointed guardian has a duty to act in the best interests of the person who granted the EPG, and their decisions can be reviewed by VCAT if necessary.

Benefits

Having a POA, EPOA, or EPG in place can provide peace of mind for individuals and their families, as it ensures that someone is appointed to make decisions on their behalf if they are unable to do so. It is important to choose an attorney or guardian who is trustworthy and competent, and who will act in the best interests of the individual who granted the authority.

If you need assistance, contact [email protected] or call 0414 939 448 for expert legal advice.