Important Updates to the Powers of Attorney Act

The Powers of Attorney Act 1998 has recently been amended to make updates to the existing Enduring Power of Attorney (EPOA) and Advanced Health Directives (AHD) forms.

What do the changes mean?

If you have a current valid EPOA and/or AHD – no changes are required. They are valid and will remain valid going forward unless a change in circumstances or amendments is required.

The current (but very soon to be outdated) EPOA and AHD forms can only be signed up to midnight 29 November 2020.

The new EPOA and AHD forms come into effect from Monday 30 November 2020. The old forms must not be used and if they are signed after 30 November 2020 they will be invalid.

If you require amendments to your current EPOA's or AHD's, then they cannot be amended by hand or a written variation and the new format EPOA and AHD forms must be used from 30 November 2020 onwards.

Other relevant changes to the legislation include if you do not have a financial attorney nominated on your EPOA then your spouse, child, next of kin etc cannot act as your financial attorney. Effectively, you will be in a legal black hole in risk guards to financial matters.

Queensland has now recognised New Zealand EPOA's and they can be registered with the Queensland land titles office. Unfortunately, the reciprocal arrangement does not apply for Queensland EPOA's are still not recognised in New Zealand.

Finally, remember as from Monday, 30 November 2020 you must use the new format EPOA and AHD forms.

Call us Gold Coast Lawyers Today

If you have any questions whatsoever about the new EPOA or AHD, please make a time to see one of our Estate Planning Experts at OMB Solicitors.