Powers of Attorney Choose who manages your finances

when you can’t

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COTA NSW (The Council on the Ageing) is the peak organisation for people over 50 in our state. We’re and independent, consumer-based, non- government organisation. We advance the rights, interests and futures of Australians as we age.

Cognitive Decline Partnership Centre aims to improve the lives of people with cognitive and related functional decline in older people by developing, communicating, and implementing research that improves care.

SEMINAR PARTNERSHIP

POWERS OF ATTORNEY –

HOW TO KEEP CONTROL

OF OUR FINANCES! S U E F I E L D

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A power of Attorney is a legal document where you appoint an

Attorney to manage your financial and certain legal affairs .

A power of attorney is not an;

Will

Enduring Guardianship

Advance Care Directive/ Living wills

POWERS OF ATTORNEY

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A document whereby we (the Principal) can appoint one or more

persons (the attorney/s) to act on our behalf for financial and

legal matters.

Powers of attorney can be General (they are only effective while we

have mental capacity) or they can be Enduring (they remain

effective after we have lost mental capacity);

They are governed by state and/or territory legislation.

POWERS OF ATTORNEY – WHAT ARE THEY?

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We can choose who we wish to appoint as our attorney/s;

We can choose when the power of attorney is to come into effect;

We can state how the attorney/s are to act, i.e. jointly/severally;

We can put limitations on the powers of the attorney/s;

We can authorize the attorney/s to give gifts;

We can revoke (cancel) the power of attorney at any stage (as long as

we have mental capacity).

HOW A POWER OF ATTORNEY CAN ASSIST YOUR CHOICES

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• The attorney/s must act in accordance with the instructions in the power

of attorney;

• The attorney/s must act in the best interest of the principal at all times;

• The attorney/s cannot benefit financially from the position;

• The attorney/s must ensure they understand their obligations;

• The attorney/s cannot resign their position if the principal has lost

mental capacity.

WHAT ARE THE RESPONSIBILITIES OF AN ATTORNEY?

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That if you have appointed your attorney under a General Power of Attorney, it will cease to have effect if you lose mental capacity;

That if you have appointed your attorney under an Enduring Power of Attorney it will continue to have effect should you lose mental capacity;

That your attorney should have;

INTEGRITY,

FINANCIAL ACUMEN,

AVAILABILITY

ADVOCACY SKILLS

UNDERSTAND THEIR ROLE and the CONSEQUENCES OF NOT DOING THE RIGHT THING.

WHAT SHOULD YOU KEEP IN MIND WHEN APPOINTING A

ATTORNEY

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We can choose to appoint someone as our enduring guardian (to

make personal and health decisions) – this will only come into

effect when we have totally or partially lost the ability to make

these decisions ourselves;

Enduring Guardianship is governed by state and/or territory legislation;

We can make an Advance Care Directive stating what treatment we

would, or would not, want if we couldn’t communicate;

Advance Care Directives in NSW are governed by Common Law.

OTHER FUTURE PLANNING TOOLS

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We can download the document/s from the website of Land and

Property Information, however, there are witnessing requirements!

We can see a solicitor who will explain and prepare the documents for

us and witness our signature;

N.B. We don’t have to register the power of attorney unless we intend

to engage in real property transactions.

HOW AND WHERE DO WE GET A POWER OF ATTORNEY

Our partners

Power of Attorney Linking to relevant information

• COTA NSW Legal Pathways - 02 8268 9616

• NSW Trustee & Guardianship - Plan Ahead days 1300 364 103

• Will Days - Local Councils, The Salvation Army, Red Cross

• Law Society - The Solicitors Referral Service

(02) 9926 0300 – 1800 422 713 (outside Metro area) –

• Registrar of a local Court House - 1300 679 272 – Press 1.

Options to assist

COTA New South Wales

Partnership COTA NSW and Legal Aid assistance to older persons needing advice about a Will, Enduring Power of Attorney, or Enduring Guardianship. Solicitors are available at: COTA NSW Office; Avoca Beach; Blacktown; Camden; Campbelltown; Cronulla; East Gosford; Liverpool; Newcastle; Newport; Parramatta; Penrith; Sutherland; Taree/Forster/Tuncurry and Wollongong.

Legal Pathways

COTA New South Wales

Reliable information – COTA NSW

COTA New South Wales

COTA NSW Website or phone

and COTA will send you copies 9286 3860

1800 449 102

Reliable information – Legal Aid NSW

COTA New South Wales

Reliable information – NSW Government

COTA New South Wales

• NSW Trustee & Guardian • Planning ahead • Land and Property Information

Future planning documents

COTA New South Wales

Financial and legal General Power of Attorney or

Enduring Power of Attorney

Estate Planning Wills

Lifestyle and health choices Enduring Guardianship

Medical treatments Advance Care Directive/Living will

Thank you Our aim is to motivated you to plan for

your future.