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Power of Attorney Revoked or Renounced

When can a power of attorney be revoked or renounced?

Revocation:

In most cases, a person (the principal) who has appointed someone else to act as their attorney may revoke that power at any time if they wish, if they have legal capacity.

 However, an irrevocable power of attorney can only be revoked in very limited circumstances – for example if the attorney consents.

 A principal may wish to revoke a power of attorney for a wide variety of reasons. For example, the attorney’s health may have declined, or the attorney may no longer be suitable to act or there may have been a falling out between the principal and the attorney. [...]  READ MORE →

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Elder Financial Abuse: Enduring Power of Attorney

Elder Financial Abuse: Enduring Power of Attorney

As presented in our blog titled Capacity and Estate Planning, an enduring power of attorney document gives your Attorneys (the people you have nominated) control over your assets when you no longer have the mental capacity to make such decisions in your best interest. For example, your Attorney being able to sell property in order to secure a place in an aged care facility.

This document is useful in helping those who look after your wellbeing, by ensuring fewer complications and removing the hurdles they may face with financial institutions and health care providers. [...]  READ MORE →