Power of Attorney
A Power of Attorney is an important legal document for any individual over the age of 18 that allows you to give someone else the authority to act on your behalf.
An Enduring Power of Attorney allows the persons appointed to continue to act for you if you lack capacity. If you do not have an enduring power of attorney, the attorney will not longer make decisions on your behalf if you later lose capacity.
A Contingent Enduring Power of Attorney only comes into effect upon a specified event, such as particular date or occurrence.
A Personal Power of Attorney and Property Power of Attorney gives the authority to an individual to make decisions about your property and financial matters, including the power to withdraw money from bank accounts, pay bills and sell or purchase property.
An attorney must act honestly, in good faith, in your best interests and with the care that could be reasonably expected of a person with the attorney’s experience and expertise.
An attorney can charge a reasonable fee for work they do which can be paid out of your assets. An accurate account of the fee an attorney pays himself or herself must be documented and provided upon your request or upon the request of a person who has been appointed for this purpose in your Power of Attorney document.
Individual circumstances can vary significantly, it is strongly advised that you speak with a qualified Estate Law lawyer at an early stage. In an initial consultation at MacKay and McLean, you will receive a complete, general orientation as to the legal, practical and personal implications of your specific circumstances.