A Power of Attorney (POA) is a responsibility and authority you hand over to another party to act on your behalf to make personal or financial decisions concerning your assets or estate. This involves situations about your health care, financial agreements, and other needs.
Essentially, it’s a legal document that certifies the party you choose to be liable for your well-being. A POA is a helpful document for you, especially if you’re having difficulties making decisions for yourself or simply preparing for the worst.
Understanding a Power of Attorney’s responsibility
People generally get their POA before they suffer from milder symptoms of neurological conditions like Alzheimer’s or Huntington’s. These diseases prevent the person from making educated and rational decisions, which may be critical as you get older. However, you can still assign your POA if you want to entrust your well-being to an appointed attorney.
The limitations of what your appointed attorney can do with your POA will vary, depending on your specifications. Additionally, you can limit the control a person will have on your assets and decision-making by choosing several people with your POA. Ideally, people choose a separate person for someone who will handle estate matters and another for your personal needs and well-being. However, you should be mindful of who you choose.
Reviewing the qualifications for an appointed attorney
There are only a few prerequisites necessary for your appointed attorney to receive a POA. If you’re issuing a POA in Queensland, your appointed attorney must be 18 years old or above. They must also not be your paid caretaker or health provider. Beyond these objective qualifications, you must choose someone who can execute different personal and business decisions. You should be confident enough to entrust these integral aspects of your life to these people.
Knowing special provisions for POA in Queensland
In Queensland, there are two kinds of POA you can appoint to a particular person: a General and an Enduring POA. A General POA will take effect only on a specific period, depending on your restrictions. This is common for business owners or estate owners who cannot respond to their legal obligations due to attending other businesses or being overseas. A person with a general POA can handle responsibilities like paying for bills and other financial decisions.
In contrast, an enduring POA allows someone to make personal and financial decisions on your behalf. Their ability to make financial decisions takes effect immediately after signing the legal document. However, the authority to handle your personal matters will only take effect if you’re no longer capable of making these decisions yourself.
Revoking your appointed attorney’s POA
In some cases, people may revoke a general or enduring POA to adjust or change the terms of their appointed attorney/s authorisation to their assets. Like appointing a POA, you must also complete the required paperwork accessible on the Queensland Government website if you want to revoke a POA that’s currently in effect.
However, keep in mind that you can only push through with this process if you can prove that you have the rational and mental capacity to demand a revocation.
Appointing someone with a POA is necessary to safeguard your estate and assets, especially if you have ongoing legal and business agreements. This is why it’s best to seek out professionals who can help you draft a comprehensive POA for your benefit.
Springfield Legals is a Springfield-based law centre that can help you draft your POA to assign your appointed attorney. Schedule an appointment with our professional solicitors today, and we’ll ensure precision and expertise in handling your legal needs.