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POWERS OF ATTORNEY


A Power of Attorney allows a person or company (the donor) to appoint a person or persons or company (the attorney) to all or specific matters which the donor would otherwise do himself or herself.

There are several types of Powers of Attorney:

General

- this means that your Attorney can do anything which you can do

Specific

- this will be in relation to a particular matter e.g. the purchase of a property; the sale of a business etc.

Enduring

- for a person only
- this means that your Attorney can do anything which you can do unless you put any specific restrictions in the Power of Attorney
- it will have effect even if the donor becomes mentally incapable of acting by himself or herself.

Company - a Company can also delegate authority to do specific matters (eg., sale or purchase of assets, settlement of litigation etc) to an Attorney. It must be executed under the Common Seal of the Company or by the Company's authorised representatives and the Directors of the Company should hold a Director = s Meeting to confirm the Company = s decision to execute the Power of Attorney.
Medical

- for a person only
- This authorises a person (attorney) to make medical decisions on your behalf and for you

Powers of Attorney can appoint one or more people to be the Attorney(s).

If more than one person is appointed then they can act jointly (i.e. they can only act together) or separately (i.e. they can act alone) or jointly and severally (i.e they can act separately or together).

All Powers of Attorney cease on the death of the person granting them.

Specific Powers of Attorney will cease to be relevant once the matter(s) they are authorised to deal with has been finalised.

Powers of Attorney can be revoked or changed at any time provided the person is mentally able to do so.

 

DISCLAIMER
This article is general in nature and for information only. It should not be acted upon without obtaining specific legal advice.

 

©Anne Hodgson & Co Lawyers,
Tel: 03 9578 7444 Fax: 03 8677 2962 Email: info@hodgsonco.com.au