New Powers of Attorney legislation came into force in Victoria on 1 September 2015. What is new (and frankly pretty wonderful) is the ability to have a Supportive Attorney. A Supportive Attorney can help the principal (the person making the appointment) with personal, financial or other matters as specified in the power. This is great for people who don’t want to give away their decision making capacity but who are advanced in age or unwell and do need some help getting jobs done (e.g. someone to talk to Centrelink because they can’t wait on the phone that long).
Importantly, there is also a protection in the legislation such that the Supportive Attorney can’t deal with any significant financial decision or transaction. This means they can’t mortgage the house or buy and sell your land out from under you. With these protections in place, we think a Supportive Attorney will be an attractive option for many people.
Why not sort out your Powers of Attorney today. We offer a special Futures Package which includes your Will and Powers of Attorney for a discounted price.