Are You an Eligible Power of Attorney?
Enduring powers of attorneys have the ability to make decisions about matters in which they were appointed. Whether it is financial or personal, a power of attorney is meant to make the best choice for their principal at all times. Stepping into the role of a power of attorney begins when the principal no longer has the capacity to make their own decisions. But what makes you eligible to be a power of attorney?
To become a power of attorney, the person must:
- Be the age of 18 years or older
- Not be insolvent: a power of attorney cannot pay its debts when they become due. An example would be someone who is undischarged bankrupt.
- Not be a caretaker, health provider, or an accommodation provider for the principal
If a power of attorney will be taking care of financial matters, there will be more requirements in addition to the ones listed above. The person cannot be convicted or found guilty of an offense which involved dishonesty. They can still be eligible if found guilty or convicted. In those circumstances, they have disclosed the conviction to the principal and the disclosure is recorded in the enduring power of attorney.
A power of attorney can be revoked by signing the appropriate revocation form. The principal must still have the capacity at the time to do so. If anyone believes that the enduring power of attorney is not acting in the best interest of the principal, they can apply to the Victorian Civil and Administrative Tribunal (VCAT). After an investigation, the VCAT may revoke the attorney’s power if it finds that they are in fact not acting in the best interest for the principal.
About Glenn Duker:
Glenn Duker has a vast experience as a litigation lawyer. He has served as a consultant to many clients in different areas of the law. His areas of expertise include business and commercial law, employment law, will and testament, probate, and trademark legal matters. Glenn writes about legal issues that arise in many clients lives. Check out GlennDukerLitigationLawyer.com.au for more information!
**This article is for informational purposes only and is not intended to be legal advice. In relation to your individual situation, always seek advice specific to your circumstances from a lawyer.