.WHY DO I NEED A POWER-OF-ATTORNEY?
A Power of Attorney enables your financial affairs to be managed according to your wishes when you are unable or do not want to conduct them personally. You can use a Power of Attorney for almost any financial purpose: for example, you can authorise your attorney to collect debts, vote at meetings, operate your bank account, manage your investments or carry out any other function which can be lawfully delegated. Should you no longer be able to manage your financial affairs and you don’t have an Enduring Power of Attorney, the NSW Civil & Administrative Tribunal (formerly the Guardianship Tribunal) may have to appoint a financial manager to make these decisions for you. While they have an obligation to take your views into account, the ultimate decision regarding your affairs rests with the Tribunal.