Why Having a Power of Attorney in Australia is Crucial
Securing Your Future: Why You Need a Power of Attorney Today
Planning for the future is crucial, and one of the most important steps you can take is ensuring that your personal, financial, and healthcare decisions are in trusted hands. That is where a Power of Attorney (POA) comes in a legal document that allows you to appoint someone (your Attorney) to make decisions on your behalf, should you become unable to do so.
At Bansal Lawyers, we simplify the process to give you peace of mind, ensuring that your legal needs are handled with expertise and care.
What is a Power of Attorney?
A Power of Attorney gives someone the authority to manage your affairs in situations where you cannot. You decide who your Attorney is and what decisions they can make—whether for healthcare, finances, or personal matters.
Types of Powers of Attorney: Which One is Right for You?
1. General Power of Attorney
A General Power of Attorney allows you to appoint someone to make financial and legal decisions on your behalf. It is best suited for short-term or temporary situations when you're:
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Travelling overseas
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Recovering from an illness or surgery
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Temporarily unable to manage your affairs
This type of POA gives your appointed person full authority to act on your behalf in matters such as banking, paying bills, selling property, or signing legal documents.
2. Enduring Power of Attorney
An Enduring Power of Attorney (EPOA) is designed for long-term planning and offers more security than a General POA. What makes it different is that it:
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Remains legally valid even if you lose mental capacity
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Can be used to manage both financial and personal matters (depending on your state laws)
This type of POA is commonly chosen by people who want to prepare for the possibility of future health issues, such as dementia or serious medical conditions. Your chosen Attorney can make decisions about:
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Managing your money, property, or business
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Handling your bills, investments, and assets
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Making arrangements for your care and living situation (if authorised)
3. Supportive Power of Attorney
A Supportive Power of Attorney is a more collaborative legal tool designed to empower people with cognitive disabilities or impairments. Instead of giving someone else full decision-making power, this POA allows the appointed person (called a supporter) to help the principal make their own decisions.
The supporter can assist by:
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Accessing and explaining information to the person
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Helping communicate decisions to others
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Assisting with understanding options or consequences
Unlike other types of POA, the principal remains in control and continues making their own decisions — the supporter’s role is to provide help without overriding their autonomy.
Why Should You Set Up a POA?
Without a Power of Attorney, decisions about your health, finances, and personal life may fall to others who don’t know your wishes. By setting up a POA, you ensure your trusted Attorney will step in when needed. It’s your way of securing control over your future.
How Does It Protect You?
Your Attorney can make decisions about:
- Finances: Paying bills, managing investments, selling property
- Personal Care: Healthcare, living arrangements, and day-to-day needs
- Specific Matters: Handling specific assets or issues
You can even appoint multiple Attorneys and specify how they make decisions (together or separately).
The Attorney’s Duties: What You Should Know
Attorneys must act in your best interests—making decisions based on your preferences and ensuring that they avoid conflicts of interest. They’re legally bound to manage your affairs responsibly and with transparency.
Who Should You Appoint?
Choose someone trustworthy, responsible, and willing to act on your behalf when needed. Think about their reliability, availability, and capacity for making important decisions.
Setting It Up: Fast & Simple
Setting up a POA involves:
- Choosing your Attorney and defining their powers.
- Getting it witnessed by two independent witnesses (including one authorized professional, like a lawyer).
- Signing the document and distributing certified copies to your Attorney and relevant institutions.
Why Wait? Plan for the Future Today
A Power of Attorney helps protect your interests, ensuring that your affairs are managed just the way you would. It’s simple, but incredibly important. At Bansal Lawyers, we make the process straightforward and hassle-free.
Let’s Secure Your Future Together
Don’t leave your future to chance—contact Bansal Lawyers, the best lawyers in the field, to set up a Power of Attorney and ensure that your decisions are always in trusted hands.