24/09/2008

A Power of Attorney can be a very important document to protect your financial position. It can safeguard your future interests and make sure your affairs will be looked after even if for a short period of time.  

A Power of Attorney is a powerful legal document allowing someone else to basically do anything you can possibly do in your position, from paying your bills or operating your bank account to signing a contract for sale of your house or business. Your attorney under power can potentially do all that.

A Power of Attorney is advisable in many circumstances including :

·                 When you are planning a long overseas trip and you need a trusted person to run your affairs at home.

·                 If you suffer from some legal incapacity now or in the future, either due to age or accident; or

·                 If you simply require someone to manage your affairs for a limited time or for a limited purpose.

Needless to say if this power is in the wrong hands, the possible ways an attorney under power can abuse this power is limitless.  For this reason it is obviously absolutely crucial to pick the right person to be your attorney. 

Under the law, if you require your attorney to deal with land title such as selling, mortgaging or leasing your property then the Power of Attorney must be registered at Land and Property Information NSW.  There is a small fee involved. 

If you require more information, please call us on (02) 8296 6222 and we will be happy to assist you.