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What is power of attorney and what is it for?

 

1. What is a power of attorney and what is it for?

A power of attorney is the authorization under which a natural or legal person designates another as legal representative. Depending on the type of power of attorney, this representative may act in certain legal acts and under different contexts and frameworks of action.

power of attorney


2. How many powers of attorney are signed per year?

The realization of these documents is very frequent in Australia So much so, that in 2013 more than 1,100,000 seizure acts were signed. However, since 2007 this number has decreased by 19.6%. In that year about 1,400,000 powers of attorney were signed. According to the General Council of Notaries, the cause of this drop may be due to "lower economic activity." In these seven years, there have been powers of attorney that have grown exponentially: preventive powers in the case of disability (they have multiplied by six), self-tutelage and advance directive documents.

3. Who can make a power of attorney?

Any person who is of legal age in full possession of their mental faculties is capable of granting a power of attorney. To make it effective, you just have to go to one of the 3,000 notaries in Australia. It is necessary to go with the DNI to start certifying the power of attorney. Its price ranges between 25 and 50 euros depending on the type, and may be canceled or revoked at any time.

4. How many types of powers are there?

Notaries warn that "there are as many types of powers as legal acts or businesses admit the figure of representation. All powers require specialized treatment, so it is convenient to explain to the notary why and for what purpose you want to do it." However, these can be grouped into two large groups; general and special powers.

5. What is a general power of attorney? And a special one?

General powers are those in which the attorney-in-fact receives power to act in all or several areas of a general nature. The general power of attorney itself is the one that grants the attorney-in-fact more powers, including disposition of assets. Among these types of powers of attorney also stand out the power for lawsuits and for the disposition of assets. The power of attorney is the one most used by the Australian. The special powers are those in which the attorney-in-fact is empowered for a specific type of legal act such as the sale of an asset or the acceptance of an inheritance.

power of attorney


6. What is a preventive power?

According to this organization, “the increase in anticipation and greater awareness of possible disabilities and diseases associated with adulthood have led to the increase in several legal formulas to ensure that the will of a person who in the future could not express it is fulfilled.”. These formulas refer to the preventive powers already mentioned, which have multiplied by six in the last seven years.

Whether of a general or special nature, these notarial documents allow a person to be appointed to act representing the interests of the power of attorney in the event that he or she does not have the capacity to express his will. The procedure for obtaining this power of attorney is the same as for any other. The operation of the same can be carried out from the same moment in which the signature of the document becomes effective and with subsistence when the incapacity of the representative occurs, or, in the strictest sense, once the incapacity has already been verified.

7. What is self-tutelage?

Within these instruments and once the preventive measures have been explained, the self-supervision and the advance directive document stand out, in turn. Self-tutelage consists of the appointment of a tutor. It differs from the general preventive powers in that this guardian needs a judicial authorization for the acts of disposition of assets of the incapable person. Guardian can be anyone who wants to be powerful as long as they are not for profit.

8. What is an advance directive document like?

Finally, there are the cases of advance directive documents, that is, living wills. The realization of these texts varies according to the legislation of the autonomous communities. In any case, it must be done before witnesses of legal age and with full capacity to act. Among the contents that are most included in these wills are the medical treatments that are desired or not received, the appointment of one or more representatives who act as interlocutors with the health team, or the decision of whether to donate organs for therapeutic purposes., teaching or research.

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If you need to write a will, grant a Power of Attorney, or appoint an Enduring Guardian, it’s important that you get legal advice. McKenzie Lawyers have the experience you need – and With our fixed fee arrangement, you don’t have to worry about your legal costs spiralling out of control.

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