Frequently Asked Questions About Powers of Attorney in NSW

What is a Power of Attorney?

A Power of Attorney is a legal document that authorises a chosen person or trustee organisation to make decisions on your behalf if illness, loss of capacity, or travel prevents you from doing so.

There are two variations of Power of Attorney documents:

• General Power of Attorney (PoA): Covers decisions for a specified period or specific situation.

• Enduring Power of Attorney (EPoA): Remains in effect if you permanently lose capacity.

In NSW, a Power of Attorney only allows your appointed attorney to act in connection with financial matters such as bank accounts, shares, or property. It cannot be used to make medical or lifestyle decisions. If you want someone to make medical, treatment, and other personal or lifestyle decisions for you, you should appoint an Enduring Guardian.

Why is Appointing a Power of Attorney Beneficial?

• Peace of Mind: A trusted person or organisation can handle your financial, legal, and personal matters, ensuring your wishes are respected
  
• Financial Security and Continuity: Your affairs are managed smoothly if you’re unable to make decisions due to illness, incapacity, or being away
  
• Reduces Stress: Relieves your loved ones of making difficult decisions during stressful times.

Who is eligible to be my Power of Attorney in NSW?

In NSW, a Power of Attorney could be:

• A lawyer
• A carer
• A family member or close friend
• A trustee organisation
• A specialist service/law firm
  

As long as they’re over the age of 18 and have full capacity to understand the responsibilities of the role, you can appoint them as your attorney.

Who is not eligible to be my Power of Attorney in NSW?

To avoid of conflicts of interest, there are several restrictions on who can be your Power of Attorney in NSW. These restrictions include:

• A recent paid carer

• Your healthcare provider

• Your residential services provider

• Someone with a history of bankruptcy or financial crime

• Someone with financial conflicts of interest

It’s important that your Power of Attorney is trustworthy, and is able to be neutral when making financial or legal decisions on your behalf. If you're unsure whether the attorney you have in mind is eligible, get in touch with Safewill today for further guidance.

What if I don’t know anyone who can be my Power of Attorney in NSW?

If you’re unsure who to appoint as your Power of Attorney, consider a neutral option like a trustee organisation or specialist law firm; this option provides an excellent sense of security if you're unsure who to appoint and want a reliable safety net. They can manage your financial and legal affairs, including:

• Payment of bills

• Management of assets and investments

• Income issues

• Taxation

Does my Power of Attorney need to be registered?

No, registration of your Power of Attorney is not required. You may choose to register a Power of Attorney in the General Register of Deeds at the Department of Land and Property Information for safe keeping.

For any Power of Attorney authorised to manage real estate in NSW, they must be registered with the Land and Property Services NSW.

Do I need a solicitor to appoint a Power of Attorney in NSW?

No, you don’t need a solicitor to appoint a Power of Attorney in NSW. You can appoint your Power of Attorney yourself via an online platform like Safewill, or if you have a more complex estate or asset structure, you can speak to a legal professional for further guidance.

There are different forms for Enduring and General Powers of Attorney, and the signing of the specific form must be witnessed by a qualified individual. This could be:

• A barrister, solicitor, or registrar of the Local Court

• An employee of a trustee company or NSW Trustee and Guardian

• A qualified overseas lawyer

• A licensed conveyancer

The Power of Attorney must also sign the form to accept responsibility.

Can I change or revoke my Power of Attorney in NSW?

Yes, you can make changes or cancel your Power of Attorney in NSW as long as you still have capacity.

It's important to review your Power of Attorney regularly to ensure it reflects your current circumstances and wishes. If you lose capacity, your enduring guardian can apply on your behalf to make these alterations.

How to revoke or cancel Power of Attorney?

To revoke or cancel a Power of Attorney and prevent them from making decisions on your behalf, you must:

• Destroy any copies of the Power of Attorney document

• Inform the relevant parties, including:

  • The named attorney

  • Your bank, financial institution, or other businesses/organisations your attorney may have been communicating with

• For registered Powers of Attorney, notify Land and Property Services NSW

Seeking legal clarification before and after making these alterations ensures they accurately reflect your new wishes.

How Safewill can help with Power of Attorney in NSW

Safewill offers expert and affordable legal guidance through our law firm on appointing or changing your Power of Attorney or Enduring Guardianship in NSW. We help you through this complex process with lower cost, greater ease, and more compassion than anyone else in the industry.

To find out more, get in touch for a one-to-one discussion on 1800 103 310 , or live chat now.