NSW Power of Attorney – 5 changes to the law

NSW Power of Attorney changes under the Power of Attorney Regulation 2016 on 1 September 2016.

What are the NSW Power of Attorney changes?

Any NSW Power of Attorney built, after 1 September 2016, using the old rules will not work. The 5 major changes are:

1. Restructuring how the appointment is set outNSW Power of Attorney changes
2. Allowing for two or more attorneys to act jointly and severally (ie one of them can act separately) or just jointly (ie if one dies then POA does not work, must act together)
3. clearer rules of conditions and limitations
4. witness must now provide their address
5. specific rules on giving notice of revocation to a bank

 

 

 

NSW Power of Attorney changes - get a lawyer to update

It is important that when you build your POAs you do so on a law firm's website. Legal Consolidated Barristers & Solicitors is Australia's only law firm providing legal documents online. Be careful building legal documents on a website not owned by a law firm. Who carries the professional PI insurance? Is Legal Professional Privilege retained? Who is giving the legal advice? When you build your POAs and other legal documents on our law firm's website you:

1. retain legal professional privilege
2. benefit from the law firm's PI insurance
3. get legal advice and we can even help you answer the questions
4. access a Sample of the document with Explanatory Notes
5. receive a letter on our law firm's letterhead explaining the document that you built

Build your NSW Power of Attorney here: https://www.legalconsolidated.com.au/enduring-poa-introduction/

View Regulation: http://www.legislation.nsw.gov.au/#/view/regulation/2016/548

Adjunct Professor, Dr Brett Davies,  CTA, AIAMA, BJuris, LLB, Dip Ed, BArts(Hons), LLM, MBA, SJD

Legal Consolidated Barristers and Solicitors
National Australian law firm
Mobile:       0477 796 959
National:    1800 141 612
Email:         brett@legalconsolidated.com

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