Changes to POA

Enduring powers of attorney in Victoria will change on 1 September 2015, with the operation of the Powers of Attorney Act 2014.

A number of changes will come into effect, tightening the laws surrounding powers of attorney. Documents executed before 1 September 2015 will remain valid after this date, however any current draft power of attorney documents which are not signed and finalised before 1 September 2015 will be invalid and of no effect.

Power of attorney documents that to come into effect after 1 September 2015 will need to comply with the new legislative requirements, resulting in additional costs and complexities. These legislative changes include more stringent requirements for the making and revoking of an enduring power of attorney.

If you have draft power of attorney documents we encourage you to urgently contact our estate team as soon as possible to finalise these documents before 1 September 2015 to ensure their ongoing validity and to keep your costs down. The estate team can also assist you in the preparation and modification of wills and trusts.