Power of Attorney

A document often underrated. When it matters, a well drafted Power of Attorney is priceless.

Power of Attorney Bayside

A Power of Attorney is a document prepared by a Solicitor that allows another person to act on your behalf. They can make important decisions and sign documents when you are unable to do so.

The person (or people) appointed by you is called your ‘Attorney’. The Attorney you choose can have the same control over finances and assets that you have so it’s crucial you choose a trusted adult to take this role.

Your Attorney cannot make health or lifestyle decisions for you.

You should ensure that this person:

Knows their duties and responsibilities
Will act in your best interests
Understands your wishes
Is trustworthy

You should choose someone that understands financial matters and business.

It will be void when you pass away and does not affect your Will. Your Executor named in your Will takes over from your Attorney at death.

Types of Power of Attorney

One of the biggest mistakes businesses make is attempting to perform their own accounting.

Ordinary Power of Attorney

Enduring Power of Attorney

Ordinary Power of Attorney

An Ordinary is only valid while you still have the capacity to make your own decisions. A common example of why this arrangement is appropriate is when you are travelling overseas for several months and want someone to manage your finances while you are away (e.g. if you are a business owner).

Enduring Power of Attorney

An Enduring is valid only when you lose the capacity to make financial decisions yourself. This arrangement is particularly important for the elderly or those with failing health.

Organise a consultation with an experienced accountant…

Request a call Or call us (03) 9589 5488

Power of Attorney Cheltenham, Bayside and Melbourne

Bruce Edmunds & Associates can help you have a Power of Attorney prepared by a qualified Solicitor. We’ll lead you through every step of the process to ensure you feel confident in your decision.

As you plan for your future, you might also like to read more about Wills and succession planning here.

Trusted accountants for Melbourne businesses

At Bruce Edmunds, we are proud to support Melbourne business owners with dependable accounting, tax, and strategic advice. Our clients trust us to help them stay compliant, make informed decisions, and plan with confidence.

    
 
 
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