Powers of Attorney
When does a Power of Attorney take effect?
You can choose when your Power of Attorney begins. It can take effect:
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Immediately upon signing, even if you're still capable; or
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Only when you lose capacity, as certified by a medical professional or determined by other specified conditions in the document.
This is something you decide at the time of making the Power of Attorney.
Frequently asked questions
Cost of Appointing an Attorney
ESSENTIALS PACKAGE
$800
PLUS GST AND DISBURSEMENTS
Includes:
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Basic Will
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Power of Attorney
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Enduring Guardianship
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Safe custody with Dormer Stanhope
Get the must-haves sorted without the fuss. Our Essentials Package covers the basics to make sure your wishes are clear and protected.
CUSTOM PACKAGE
FROM $950
PLUS GST AND DISBURSEMENTS
Includes:
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A Will tailored to your specific needs, for example, if you own a business, have a blended family, a self-managed super fund, or require a long-term trust (known as a testamentary trust) or certain conditions in your Will
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Power of Attorney
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Enduring Guardianship
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Safe custody with Dormer Stanhope
Who should I appoint as my Attorney?
This is a role of significant responsibility. Choose someone you trust to act in your best interests. You can appoint:
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one person; or
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more than one person to act:
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Jointly, which means that they must agree and act unanimously
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Severally, which means that they act independently
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Jointly and severally, which means that they can act unanimously, but also independently
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Legal Requirements in NSW
To make a valid Power of Attorney in NSW:
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You must be over 18 and have decision-making capacity
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The document must be signed in front of a prescribed witness (e.g., solicitor, barrister, Registrar of the Court)
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You can revoke or change it at any time, so long as you still have capacity
What authority would my Attorney have in managing my affairs?
Your Attorney can manage almost any financial or legal task on your behalf, including:
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signing legally binding documents
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operating bank accounts
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paying bills
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buying and selling real estate
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managing investments
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collecting rent
Your Attorney cannot make personal, medical, or lifestyle decisions. These are managed through an Appointment of Enduring Guardian.
When might you need one?
A Power of Attorney isn’t just for the elderly or ill people. It’s a smart precaution to have in place. Life can change in an instant, and having this document in place ensures that someone you trust can help when you need it most.
Examples of when a Power of Attorney is useful:
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You temporarily lose capacity due to illness, injury or disability and need someone to manage your finances while you're in recovery
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You’re travelling or temporarily living overseas and need someone to act on your behalf
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You prefer someone with financial experience to manage your affairs
Without a Power of Attorney, a court or tribunal may need to appoint someone under a financial management order – a process that can be costly and time-consuming.
Types of Powers of Attorney
General Power of Attorney
Suitable for short-term or specific situations, such as when you’re travelling or temporarily unavailable. It only operates while you have capacity and ends if you lose that capacity or pass away.
Enduring Power of Attorney
This remains valid even if you lose the ability to make decisions. It’s a key safeguard for your future, ensuring someone you trust can step in if needed. Like a General Power of Attorney, it ends if you pass away.
What is a Power of Attorney?
A Power of Attorney gives your chosen decision-maker (called your Attorney) the authority to handle your financial and legal affairs, such as managing bank accounts and investments, paying bills, submitting tax returns, and managing real estate.
Your Attorney won't be able to act on your behalf in roles such as director of a company or trustee of a trust.
Estate planning isn’t just about what happens after you pass away. It’s also about planning for what happens if you lose capacity during your lifetime.
A Power of Attorney is a legal document that allows someone you trust to manage your financial and legal affairs if you’re unable to do so due to illness, injury, or incapacity. It offers peace of mind and helps avoid the stress, cost and delay of court intervention. With a Power of Attorney in place, you're still in control – just through someone acting on your behalf