What is Power of Attorney and How Does It Work?
As a citizen of Western Australia, there are two types of Powers of Attorney which you may enter into. The two types of powers of attorney are General Power of Attorney and Enduring Power of Attorney. In a nutshell, the power of attorney or the POA is a legal document that consents an individual or an organization to appoint a person to handle your affairs if you are unavailable to perform such affairs. However, not all powers of attorney give the same effect and controls to the attorney-in-fact. The attorney-in-fact is the person designated to make decisions on your behalf. The General Power of Attorney The general power of attorney gives your attorney-in-fact wide-ranging powers to act on your behalf. These may include the powers in handling business and financial transactions, getting life insurance on your behalf, setting claims, hiring professional help, running business interests, and making gifts on your behalf. The general power of attorney is a valuable and effective