Power of Attorney & Wills
Power of Attorney – Personal & Business
Most people know that a power of attorney authorises another person(s) to deal with your financial affairs in the event that you are unable to do so yourself.
If you own a business and trade as a company, you can also prepare a power of attorney authorising another person(s) to act on behalf of the company.
A power of attorney does not mean that you lose control over making decisions.
You can provide a power of attorney to a person(s) to carry out your instructions on your behalf, e.g., signing documents, negotiating, and/or entering into a contract, lease, or some other function.
In that instance, you are still making the decisions for yourself or your business.
Everyone over the age of 18 years that owns assets (e.g. a car) should have a will.
If you already have a will, you should review it every few years to ensure that it does what you want it to do, that is, that the right beneficiaries are named and that your intentions with respect to gifts are correct.
When reviewing your will, you ought to consider whether any of the following events have occurred since you signed your will:
- New relationship;
- Contemplation of Marriage;
- Birth of a child; and
- If someone named in your Will has passed away.
If so, there is a good chance that your will requires changes.
For more information, contact Bambrick Legal today. We offer a free, no-obligation 15-min consultation for all enquiries.
You can also read more about our Estate Planning services here.
Related Blog – What is a Testamentary Trust?