A Power of Attorney is a legal document that allows a nominated person or organisation the right to deal with any of your assets or financial affairs while you're still alive.
Giving the Power of Attorney is an extremely serious decision. Your nominated Power of Attorney will have control over financial and legal affairs. Therefore, when choosing someone it's important that they're responsible and have your best interests in mind. More importantly, you have to ensure that your nominee is someone you trust to keep your wellbeing at the forefront of their decisions.
A Power of Attorney can be revoked or cancelled at any time, while the Principal (nominator) is deemed to have the mental capacity to do so.
There are different types of Power of Attorney that may apply to your individual needs and circumstances. At Laymens, we will work with you to determine the most appropriate form of Attorney. It's then our duty to help prepare the relevant documentation to ensure that your financial and legal affairs are properly protected.
For more information on Power of Attorney, please contact Laymens on Free Call 1800 529 636.