Everything You Need to Know About the Enduring Power of Attorney (Australia)
What is an Enduring Power of Attorney?
It is a document that authorises a trusted person (or persons) to handle your financial and legal matters, even if you later lose capacity.
Who can you appoint?
- A trusted individual, company, or NSW Trustee and Guardian.
- More than one attorney can be appointed, either jointly or jointly and severally.
- Substitute attorneys can also be nominated if your original attorney is no longer able to act.
When does it begin?
- Immediately after your attorney signs the form.
- When a medical practitioner certifies you cannot manage your affairs.
- When your attorney believes you need assistance.
- Or a date you specify.
Why is it important?
- Provides continuity in financial and legal matters if you lose mental capacity.
- Prevents family disputes by having a clear legal authority in place.
- Ensures your financial interests are safeguarded and managed responsibly.
Key Notes
- It does not cover health or lifestyle decisions (for that, you need an Enduring Guardianship appointment).
- Attorneys must act honestly, keep records, and always act in your best interest.
- The form may need to be registered with NSW Land and Property Information if it is used for property transactions.
