What is an Enduring Power of Attorney and How Do You Benefit from It?

The reason why you’re interested in this article is that you probably have thought about creating an Enduring Power of Attorney Adelaide. However, you aren’t sure what it does and how it benefits you. Well, you’ve made the right decision to read this post because you are getting vital information about the nature and purpose of this legal document.

For starters, enduring power of attorney refers to a legal agreement which allows a person to appoint a trusted individual when it comes to making financial or property management decisions on their behalf. Furthermore, the legal document is an agreement that is made by choice. It is not legally binding if created under duress or when the donor is mentally incapacitated. It is usually executed by a person who is within the legal age of 18. It is a critical requirement since people who are 18 years old and above are the only ones who carry with them a full legal capacity based on Australian laws.

So, what is the meaning of “full legal capacity?”

129 300x200 - What is an Enduring Power of Attorney and How Do You Benefit from It?The concept of full legal capacity suggests that a person has the skills and intellectual ability to understand as well as comprehend the nature and effect of the document they are completing, including the nature and extent of their estate.

Be reminded that the enduring power of attorney is a legal document that should not be made by an individual on behalf of a donor, who in turn does not have full mental capacity due to an illness, including but not limited to brain injury, dementia, or cognitive impairment.

The rule is that the enduring power of attorney remains legal and operational while the person still has the capacity, even if he or she is physically unable to attend to financial matters.

What benefit does an enduring power of attorney give you?

First, you must understand that it is a legal document that’s different in many ways to that of a traditional or ordinary power of attorney. The reason is that it continues to operate even if the donor loses full legal capacity. It does not allow a lawyer to make personal and lifestyle decisions. It also does not have a legal tooth when making decisions about treatment options. Hence, the authority given to the attorney is limited to any decision that has something to do with the donor’s property as well as any financial affair.

Finally, the cancellation or revocation of the Enduring Power of Attorney Adelaide is only possible if the donor has full legal capacity, and it is non-negotiable. For the most part, cancellation or revocation is done in writing. So, when you make such a document, it is a given that everything must be in ink.