Enduring Power of Attorney
$108 includes GST
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An Enduring Power of Attorney (POA) is a legal document. It allows you to appoint a person to make decisions about your assets. The POA deals with your assets e.g. real estate and bank accounts.
What is a Tasmanian Enduring POA?
A Tasmanian Enduring POA is a legal document in the State of Tasmania. It allows you to appoint a person to make decisions about your assets. The Tasmanian EPA deals with your assets e.g. real estate and bank accounts
What can’t the Tasmanian EPA do?
The Tasmanian POA is an “economic” document. Your POA in Tasmania does not deal with your health, medical treatment or lifestyle. To do this, instead, build a Tasmanian Medical POA on our website. Also, the person receiving your Tasmanian POA cannot:
- vote in any elections
- make a Will
- sign another Tasmanian EPA
- act as a Trustee
- control your body (you need a Power of Guardianship instead)
However, the person getting your Tasmanian Enduring POA, can open and close bank accounts, pay debts, and buy and sell land. This is provided it is in your ‘best interests’ to do so.
How does the person getting my Tasmanian EPA use it?
Here are some examples:
Example 1 – Using your bank account
The persons you appoint walk into the bank and present to the bank clerk with your Savings Account book and your Tasmanian EPA. The clerk stares blankly at them. He sees his bank manager. The manager explains to the clerk that those persons “now stand in your shoes”. They can do whatever you could do with the bank account. The manager asks to take a copy of the Tasmanian Power of Attorney for future reference. The bank manager tries to keep the original Tasmanian POA but the persons you nominate decline and get back the Tasmanian POA. The transaction on the Savings account takes place.
Example 2 – Signing using your Tasmanian POA
You tell the persons that you nominated, to sign a lease agreement. You are on holidays overseas and email is unavailable. Your attorney contacts the landlord. They:
- tell the landlord that there is a Tasmanian Enduring POA
- tell the landlord that they are signing the lease on your behalf
- they sign in their usual signature area and write under the signatures “signed as attorney for *your name* under a Tasmanian POA dated ## Month, year”.
You are now bound to the lease. The landlord may photocopy the Tasmanian EPA to attach to the lease.
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