At Chamberlains we hear this all the time, “I’m too young to have a Power of Attorney”, “I have joint bank accounts, I don’t need a Power of Attorney”, “I don’t have any assets anyway, I don’t need a Will or Power of Attorney”. A Power of Attorney is only for the elderly, right?
It doesn’t matter if you are old or young, in business or not, if you do a lot of travelling or not, a Power of Attorney can be very useful.
What is a POA anyway?
A Power of Attorney is a legal document that gives a trusted person, the legal authority to act for you, and to make legally binding decisions on your behalf. There are different types of Powers of Attorney and Chamberlains can advise which will best suit you and your circumstances.
Why do I need a POA?
Everyone is at risk of an accident or unexpected illness. To be valid, A Power of Attorney needs to be set up while you are in good health and understand what you are signing.
A Power of Attorney is a good idea if you:
- Plan on going overseas;
- Take an extended holiday;
- Will be away when important documents need to be signed, such as mortgage documents;
- Suffer a sudden illness or accident;
- Are in poor health;
- Are unable to manage your property or financial affairs; or
- Just can’t cope with the demands of financial paper work or making decisions.
Who should I appoint as my Attorney?
Your Attorney should be a trusted person who is capable of looking after your affairs. Your Attorney does not need to have legal qualifications, you can appoint an adult of your choice. You should be confident that your Attorney has integrity and will be able to act in a business-like manner, be impartial and be willing to act in that capacity.
Chamberlains can help you get your Power of Attorney set up before it is too late. Even if you are old. Or young. We promise it will give you peace of mind. Contact us for an appointment on 6272 0500.
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