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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 Fielding was admitted to practice in 1970 and practised initially in a wide area of law. Before retirement in 2019 she practised mainly in the area of succession planning, guardianship and administration, probate, administration of estates and trusts and powers of attorney. She is a Life Member of the Law Society of Western Australia having served on its Property Law and Education Committees, the Public Purposes Trust Investment Advisory Committee and the Elder Law and Succession Law Committee and as a representative to the Law Council’s Elder Law and Succession Law Committee. Since 2010 she has edited the College of Law Western Australian Practice Papers on Wills, Probate and Estate Administration. She was the Chair of STEP in Western Australia and as an inaugural committee member of the STEP Mental Capacity Special Interest Group she served on that committee for nine years. In 2022 she was the recipient of a STEP Founder’s Award and in 2023 she was invited to join the Editorial Board for the STEP Journal. She is a regular speaker on a wide range of topics, including capacity, both in Australia and internationally. - Current at 28 May 2024
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This was presented at The 28th National Convention .

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