What is a Power of Attorney?
A power of attorney is a legal document authorising someone else to deal with your assests on your behalf. You can give your attorney power or authority over your money, bank accounts, shares, real estate and other assets as directed by you in the power of attorney or according to law. A power of attorney only applies to financial matters and not personal matters (see Enduring Guardianship).
If you are considering appointing an attorney under power of attorney, call us for an appointment. We can discuss the benefits as well as the risks of appointing an attorney, ways to minimise any risks or concerns, and prepare the power of attorney.
Types of Power of Attorney
There are two kinds of power of attorney - general power of attorney and enduring power of attorney.
A general power of attorney is sufficient if you only want to appoint someone for a short period of time, or there is no intention for that person to have ongoing authority over your assets. If you lose mental capcity (ie, through illness or accident) the general power of attorney will no longer be valid.
If you want your power of attorney to be valid even if you lose mental capacity, you need to consider an enduring power of attorney. There are additional legal requirements for preparing an enduring power of attorney - and before proceeding, you should contact our experience estate planning lawyers to determine which power of attorney is most appropriate to you and your circumstances.
In all cases, if you want your attorney to be able to do things with your real estate in New South Wales, you must register the power of attorney with the Department of Lands.
International Power of Attorney
The power of attorney prepared in accordance with the Powers of Attorney Act 2003 (NSW) or other Australian law will generally only be accepted within Australia. If you wish to appoint someone to be your attorney in a country outside of Australia you should have the relevant document prepared by a suitably qualified person in the intended country.
Our notary public services frequently assist with executing, witnessing and notarising power of attorney documents used all over the world and our notary public fees are some of the lowest in Sydney.
What is a Notary Public?
A notary public, also known as a public notary, is a senior lawyer who can administer oaths and statutory declarations, witness and authenticate documents and perform certain other acts in relation to documents in Australia but intended to be used overseas.
At Phang Legal, we assist clients from all over the world sending documents to all parts of the world. Our notary details are recorded in the official register maintained by the Department of Foreign Affairs and Trade (DFAT), which means that documents notarised by us will be promptly authenticated by DFAT without hassle or complication. Various foreign consulates and embassies also recognise us as providing notary public services and we appear in their lists of recommended notary publics. Make an appointment today to see our notary public to notarise your documents.
What does a Notary Public do?
- A notary public attests documents and certifies the execution of the documents.
- A notary public prepares and certifies certain legal documents.
- A notary public administers oaths, witnesses affidavits, statutory declarations and other documents.
- A notary public certifies copies of the documents.
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Review of Powers of Attorney Act 2003 - issue paper - closing date for submissions 28 August 2009
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