NSW Guardian Tribunal Enduring Power of Attorney

At that time the person must be capable of

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Unformatted text preview: have mental capacity when they sign the document. At that time, the person must be capable of understanding the nature and effect of the enduring power of attorney. They must be capable of understanding the range of decisions which the attorney can make on their behalf. They should also understand that the attorney can make decisions without consulting them. What if it is unclear whether a person has the mental capacity to make an enduring power of attorney? If it is not clear if a person has the required mental capacity to make an enduring power of attorney, it is best to seek advice from a lawyer and health professionals. The lawyer may suggest that the person’s capacity be assessed by a professional (such as a neuropsychologist or geriatrician) before the enduring power of attorney is made. You can give your attorney the power to make any decision or do anything about your finances or property which you could do yourself. These broad powers include selling, buying or leasing property (such as your house), making investments, accessing cash (including bank accounts) and buying or selling shares. You can control the power you give to the attorney by placing limits or conditions in the enduring power of attorney. For example, you can give the attorney limited authority to do specific tasks, such as paying regular bills but not selling property. If you wish to limit your attorney’s powers you should seek legal advice about the best way to do this. What are the duties and responsibilities of an attorney? An attorney is in an important position of trust. The attorney is legally responsible to you and must: • always act only in your best interests; Who should I appoint as my attorney? An attorney can have enormous power over your financial affairs. You should choose an attorney whom you trust and who will manage your finances in a responsible way. If your financial affairs are complicated, you should appoint an attorney who has the skills to deal with complex financial arrangments. You may wish to appoi...
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This note was uploaded on 03/25/2014 for the course FOBE 302 taught by Professor X during the One '13 term at Macquarie.

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