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Powers of Attorney paper

Published on 13 Mar 13 by NATIONAL DIVISION, THE TAX INSTITUTE

The use of a power of attorney is often very important in the context of effecting/completing a commercial transaction or in the context of ensuring that a vacuum does not arise over commercial decisions. This paper covers:

  • what are the legal requirements?
  • who can be the attorney of a power of attorney?
  • the difference between irrevocable and revocable powers of attorney and common law powers of attorney and enduring powers of attorney
  • duties of an attorney
  • the impact of a loss of capacity by the donor
  • appointment of attorneys by trustees and companies
  • where it is permissible to use a power of attorney inthe context of an SMSF.

Author profile:

Susan Fielding
Susan is a highly experienced lawyer in the area of succession planning, wills and probate, trusts, administration of deceased estates, estate litigation and guardianship. Susan regularly presents at community organisations and gives lectures to the legal profession on a wide range of matters including proving foreign wills, obligations of executors and trustees, the drafting of wills and powers of attorney. She is a member of the Working Group which advises the Attorney-General on the review of succession law in Western Australia. Current at 16 November 2012 Click here to expand/collapse more articles by Susan Fielding.
 

This was presented at The 28th National Convention.

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