General Power of Attorney - Template, Sample Form Pro · AU-law

GENERAL POWER OF ATTORNEY

Made under the Powers of Attorney Act 2003 (NSW)

BACKGROUND INFORMATION

A general power of attorney is a legal document by which you (the principal) appoint one or more persons (the attorney or attorneys) to act on your behalf in relation to your legal and financial affairs. Subject to any conditions and limitations you impose, a general power of attorney may authorise your attorney to buy and sell real estate, shares and other assets, operate your bank accounts and spend money on your behalf.

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§ 1. APPOINTMENT OF ATTORNEY BY THE PRINCIPAL

Principal — the person who appoints the attorney.
Attorney — the person nominated to manage your legal and financial affairs. You may appoint more than one attorney.

1.1 I, ________ of ________ (the Principal), being of full legal capacity and over 18 years of age, appoint the following person or persons to be my attorney(s):

First attorney — full name: ________; address: ________

Second attorney (if any) — full name: ________; address: ________

Further attorney (if any) — full name: ________; address: ________

1.2 Complete this clause only if more than one attorney is appointed. Where I have appointed more than one attorney, they are appointed in the following manner (the selected manner is to be inserted): ________

• Jointly — my attorneys must all act together — and the appointment is to be terminated if one of the attorneys dies, resigns or otherwise vacates office; or
• Jointly — my attorneys must all act together — and the appointment is not to be terminated if one of the attorneys dies, resigns or otherwise vacates office; or
• Jointly and severally — my attorneys may act individually or together as they choose.

1.3 If no manner of appointment is indicated, or the manner indicated is unclear or inconsistent, I intend my attorneys to act jointly and severally.

NOMINATION OF SUBSTITUTE ATTORNEY (optional)

1.4 If an attorney appointed under this instrument vacates office, I appoint the following person or persons to be my substitute attorney(s):

First substitute attorney — full name: ________; address: ________

Further substitute attorney (if any) — full name: ________; address: ________

Person(s) for whom each substitute is to act (if specified): ________

1.5 Complete this clause only if more than one substitute attorney is appointed. Where I have appointed more than one substitute attorney, they are appointed in the following manner: ________

• Jointly — my substitute attorneys must all act together; or
• Jointly and severally — my substitute attorneys may act individually or together as they choose.

1.6 If no manner of appointment is indicated, or the manner indicated is unclear or inconsistent, I intend my substitute attorneys to act jointly and severally.

§ 2. POWERS

2.1 My attorney may exercise the authority conferred by Part 2 of the Powers of Attorney Act 2003 (NSW) to do on my behalf anything that I may lawfully authorise an attorney to do.

2.2 Additional powers (optional). Subject to clause 3, I authorise my attorney to use my money and assets in the following way(s) (insert each authority that is to apply): ________

• I authorise my attorney to give reasonable gifts as provided by section 11(2) of the Powers of Attorney Act 2003 (NSW).
• I authorise my attorney to confer benefits on the attorney to meet the attorney's reasonable living and medical expenses as provided by section 12(2) of the Powers of Attorney Act 2003 (NSW).
• I authorise my attorney to confer benefits on the following person(s) — full name and address: ________ — to meet their reasonable living and medical expenses as provided by section 13(2) of the Powers of Attorney Act 2003 (NSW).

2.3 Any authority in clause 2.2 that is not expressly adopted is not conferred on my attorney.

§ 3. CONDITIONS AND LIMITATIONS

3.1 I place the following conditions and/or limitations on the authority of my attorney: ________

You may limit the attorney's power to particular tasks (for example, the sale of a specified property or dealings with specified shares) and may impose conditions on how those tasks are carried out (for example, that accounts be submitted annually to a nominated accountant for audit). If you do not wish to impose any conditions or limitations, insert “NIL”.

§ 4. COMMENCEMENT

4.1 This power of attorney operates from (insert the date or the event on which it is to commence; insert “immediately” if it is to operate from the date of execution): ________

4.2 If no commencement is indicated, or the indication is unclear or inconsistent, I intend that this power of attorney will operate immediately on its execution by me.

§ 5. EXECUTION BY THE PRINCIPAL

Signed by the Principal, ________:

Signature of Principal: ________

Date: ________

Place of signing: ________

In the presence of the witness named below (the witness must be an adult who is not an appointed attorney or substitute attorney):

Signature of witness: ________

Full name of witness: ________

Address of witness: ________

Date witnessed: ________

§ 6. ACCEPTANCE BY ATTORNEY (recommended)

I accept the appointment as attorney for the Principal and acknowledge the responsibilities set out in clause 7.

Signature of attorney: ________

Full name of attorney: ________

Date: ________

§ 7. ATTORNEY RESPONSIBILITIES

Your attorney must:

(a) keep your money and property separate from the attorney's own money and property (unless held jointly or in a joint account);
(b) keep reasonable accounts and records of your money and property;
(c) not benefit from being an attorney unless expressly authorised by you under clause 2;
(d) always act in your best interests; and
(e) always act honestly in all matters concerning your legal and financial affairs.

Failure to comply with these duties may give rise to civil and/or criminal liability under the Powers of Attorney Act 2003 (NSW) and the general law.

IMPORTANT INFORMATION

• A power of attorney is an important and powerful legal document. You should obtain independent legal advice before signing it.
• You should appoint as attorney only a person you trust to make financial decisions on your behalf. An attorney must be over 18 years of age and should not be bankrupt or insolvent. If your financial affairs are complex, consider appointing an attorney with the relevant skills.
• A general power of attorney cannot be used for health, lifestyle or personal welfare decisions. If you want a particular person to make those decisions, appoint an enduring guardian under the Guardianship Act 1987 (NSW). For further information, contact the NSW Civil and Administrative Tribunal or the NSW Trustee and Guardian.
• Clause 2 contains powers permitting your attorney to use your money and assets for the attorney or others. Adopt an option in clause 2 only if you intend your attorney to have that power.
• This power of attorney is for use in New South Wales. If you require a power of attorney for use interstate or overseas, you may need to make one under the relevant laws of that jurisdiction. While some other Australian States and Territories may recognise this instrument, you should confirm whether the law of the jurisdiction concerned in fact recognises it.
• Your attorney must keep their own money and property separate from your money and property (unless held jointly), and should keep reasonable accounts and records. The reasonable cost of keeping those records may be recoverable from you.
• If your attorney is to sign documents affecting land, this power of attorney must be registered with NSW Land Registry Services (formerly Land and Property Information). You should confirm whether registration is required.
• An attorney must always act in your best interests. If your attorney does not follow your directions or act in your best interests, consider revoking the power of attorney. If you revoke it, notify the attorney, preferably in writing; the attorney must cease to act immediately upon becoming aware of the revocation.
• This power of attorney does not automatically revoke any earlier power of attorney made by you. If you have made an earlier power of attorney that you do not wish to continue, you must revoke it and should notify the earlier attorney and any person aware of it, such as a bank.

NOTES FOR COMPLETION

Joint attorneys — If you appoint more than one attorney, indicate whether they are to act jointly or jointly and severally. Attorneys appointed jointly may act and make decisions only together. Attorneys appointed jointly and severally may act and make decisions independently or together. You may specify that a simple majority must agree before acting (where three or more attorneys are appointed).

Substitute attorneys — A substitute attorney has authority to act only if the attorney they replace dies, resigns or otherwise vacates office. You may specify for whom each substitute is to act (for example, if you appoint A and B as attorneys and X and Y as substitutes, you may specify that X takes A's place if A vacates office).

Commencement — A general power of attorney operates from the date it is signed, unless you specify another time or event for it to commence. A general power of attorney does not continue to operate if you lose mental capacity. If you want the appointment to continue after any loss of capacity, you must make an enduring power of attorney.

Witnessing — This power of attorney must be signed by you and your signature witnessed by an adult who is not an appointed attorney. The witness should sign and insert their full name and address. If you intend the document to be an enduring power of attorney, it must be witnessed by a prescribed witness (such as a solicitor, barrister, registrar of a Local Court or licensed conveyancer) who must also complete the prescribed certificate under section 19 of the Powers of Attorney Act 2003 (NSW).

Further information — For information about powers of attorney, an attorney's duties and registration, contact NSW Land Registry Services, the NSW Trustee and Guardian (www.tag.nsw.gov.au), a solicitor or a trustee company. The NSW Government's Planning Ahead Tools website (www.planningaheadtools.com.au) provides current information and resources about powers of attorney, enduring guardianship, wills and advance care planning.