Enduring Power of Attorney
$128 includes GST
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An Enduring Power of Attorney (POA) is a legal document. It allows you to appoint a person to make decisions about your assets. The POA deals with your assets e.g. real estate and bank accounts.
What is an SA Enduring POA?
A South Australia Enduring Power of Attorney is a legal document. The SA Enduring POA allows you to appoint a person to make decisions about your assets in SA and bank accounts.
What can’t a South Australian POA do?
The SA POA is an “economic” document. Your SA Enduring POA does not deal with your health treatment or lifestyle. To do this, instead, build a South Australia Medical POA on our website. Also, the person receiving your SA EPA cannot:
* vote in any elections
* make a Will
* sign another POA
* act as a Trustee
* control your body (you need to build a POA for lifestyle on our website for that)
However, the person getting your SA EPA, can open and close bank accounts, pay debts, and buy and sell land. This is provided it is in your ‘best interests’ to do so.
How does the person receiving my SA POA actually use the SA POA?
Here are some examples:
Example 1 – Using your SA bank account
The persons you appoint walk into the bank and present to the bank clerk with your Savings Account book and your South Australian POA. Your clerk stares blankly at them. He sees his bank manager. The manager explains to the clerk that those persons “now stand in your shoes”. They can do whatever you could do with the bank account. The bank manager asks to take a copy of the SA POA for future reference. The manager tries to keep the original SA POA but the persons you nominate decline and get back the SA POA. The transaction on the account takes place.
Example 2 – Signing your legal documents
You tell the persons that you nominated, to sign a lease agreement. You are on holiday overseas and email is unavailable. Your attorney contacts the landlord. They:
1. tell the landlord that there is an SA Enduring POA
2. tell the landlord that they are signing the lease on your behalf
3. they sign in their usual signature area and write under the signatures “signed as attorney for *your name* under an SA Power of Attorney dated ## Month, year”.
You are now bound to the lease. The landlord may photocopy the SA POA to attach to the lease.
Protects from death duties, divorcing and bankrupt children and a 32% tax on super. Build online with free lifetime updates:
Couples Bundle
includes 3-Generation Testamentary Trust Wills and 4 POAs
Singles Bundle
includes 3-Generation Testamentary Trust Will and 2 POAs
Death Taxes
- Australia’s four death duties
- 32% tax on superannuation to children
- Selling a dead person’s home tax-free
- HECs debt at death
- CGT on dead wife’s wedding ring
- Extra tax on Charities
Vulnerable children and spend-thrifts
- Your Will includes:
- Divorce Protection Trust if children divorce
- Bankruptcy Trusts
- Special Disability Trust (free vulnerable children in Wills Training Video)
- Guardians for under 18-year-old children
- Considered person clause to stop Will challenges
Second Marriages & Challenging Will
- Contractual Will Agreement for second marriages
- Wills for blended families
- Do Marriages and Divorce revoke my Will?
- Can my lover challenge my Will?
- Make my Will fair: hotchpot clauses v Equalisation?
What if I:
- have assets or beneficiaries overseas?
- lack mental capacity to sign my Will?
- sign my Will in hospital or isolating?
- lose my Will or my home burns down?
- have addresses changed in my Will?
- have nicknames and alias names?
- want free storage of my Wills and POAs?
- put Specific Gifts in Wills
- build my parent’s Wills?
- leave money to my pets?
- want my adviser or accountant to build the Will for me?
Assets not in your Will
- Joint tenancy assets and the family home
- Loans to children, parents or company
- Gifts and forgiving a debt before you die
- Who controls my Company at death?
- Family Trusts:
- Changing control with Backup Appointors
- losing Centrelink and winding up Family Trust
- Does my Family Trust go in my Will?
Power of Attorney
Money POAs: NSW, VIC, QLD, WA, SA, TAS, ACT & NT
- be used to steal my money?
- act as trustee of my trust?
- change my Superannuation binding nomination?
- be witnessed by my financial planner witness?
- be signed if I lack mental capacity?
- Medical, Lifestyle, Guardianships, and Care Directives:
- Company POA when directors go missing, insane or die
After death
- Free Wish List to be kept with your Will
- Burial arrangements
- How to amend a Testamentary Trust after you die
- What happens to mortgages when I die?
- Family Court looks at dead Dad’s Will
