If you move overseas or are otherwise unable to manage your finances, you may want to appoint a general power of attorney. This document gives you financial decision-making responsibility for someone else, usually a close family or friend.
Read on to find out the key points of the general power of attorney documents for South Australia.
A general power of attorney is a document that enables the attorney to act financially on behalf of the client while either abroad or otherwise unable to manage his own finances for a specified period of time.
The document sets out the purpose, circumstances, and period for which the attorney will exercise this authority. The donor and recipient must agree to enter into a contract and the lawyer must be at least 18 years old.
A general power of attorney ends either after the deadline specified in the document or after the death of the client or is no longer legally able to make decisions.
A client is considered incapable if he has an accident, a disability or psychological problems that make him unable to make decisions himself.
General power of attorney in South Australia is governed by the Power of Attorney and Agency Act 1984.
Download this template from Lawpath
General power of attorney is used when someone is unable to manage their own financial assets. This could be for a number of reasons, such as having to go overseas for a long period of time in the middle of a land deal. You can appoint someone you trust to be your attorney to complete your transaction. Power of attorney is administered at the state level, so your financial assets must be in South Australia for this to apply.
When this document is prepared and approved, the attorney can make financial decisions such as: B. Pay bills, invest money and buy or sell land on behalf of the client.
A lawyer can be your friend or family, or anyone you trust. Anyone who is a nominated beneficiary on your will can also be your attorney. However, it is recommended that you do not appoint your partner or your financially dependent children as a lawyer.
A general power of attorney is different from a permanent power of attorney. While both are established when the client is legally able to make its decisions, they differ in terms of scope of authority, occasion and time of validity.
With a permanent power of attorney, the recipient is able to make personal decisions on behalf of the client. This includes lifestyle, health, legal, and financial decisions. This document comes into play after the person is no longer able to make decisions on their own, but the agreement needs to be made when it is still reasonable.
The document also has no end date. It begins as soon as it is signed by both parties, or begins after an occasion or a specific time mentioned on the document.
What does a general power of attorney normally include and what does not?
A general power of attorney is a simple document and usually contains details of the power of attorney given to the person appointed.
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A general authorization document can contain the following:
- Name and age of the client and all lawyers
- The attorney’s power of attorney
- Date and duration of validity of the document
- Signatures of the client and the lawyers, which are filled in before a witness
- Signature, title, address and the printed name of a witness.
Not included
- The document usually does not contain enhanced powers for the attorney such as the power to make legal or lifestyle decisions for the client.
After the form is verified in front of a witness, it becomes a formal document. It is legally valid when the witness signs it. It can be used in court for future disputes or claims of the client or the lawyer.
A general power of attorney is a straightforward document. However, you may want to have your lawyer screened for security. Since the document is formally feasible, it can be a wise move to get legal advice on the document.
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This government do-it-yourself kit allows you to write a power of attorney. Elsewhere, a public trustee can prepare the document for you. Or you can find a lawyer on the Law Society of South Australia website to help you prepare a legally sound document.
Alternatively, you can download a template from other verified websites (also using the table above).
Where to get free legal documents and templates such as a general power of attorney online
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Lawpath allows users to customize and download the general power of attorney for free. Just sign up to use it and you will be able to create your document in less than 10 minutes.
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The Land Services South Australia offers a number of free forms to download.
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