The law sets out the powers that can be performed by your attorney.

If authorised by you, your attorney could do anything on your behalf that you are lawfully authorised to do so long as it is in your best interests. Your attorney could buy and sell real estate on your behalf, buy and sell shares on your behalf and make transactions using your bank accounts. If authorised by you, they could deal with your digital assets, including your PayPal balance, Qantas points, your social media accounts and digital currencies such as bitcoin.

An attorney does not have the authority to:

• Make a Will on your behalf;

• Make personal, lifestyle or medical decisions (for example accommodation decisions) on your behalf;

• Perform the functions of a director or secretary of a company on your behalf unless you have prepared a separate corporate power of attorney document;

• Delegate their authority which means hand over the power to someone else.

Your attorney must act in your best interests at all times, they must keep their money and your money separate and they must maintain accurate records.

We’ll help you set clear boundaries. Contact Rayners Lawyers to prepare a Power of Attorney tailored to your unique circumstances.