Power of Attorney
Is a Power of Attorney liable to Stamp Duty in NSW?
Does a Power of Attorney have to be registered before a contract can be signed by the Attorney?
No. It must however be registered in the General Registry of Deeds before dealings affecting land, such as a Transfer, are signed.
Should I provide a copy of my client’s will to his attorney?
Without the authority of the client a solicitor is not at liberty to provide the attorney with a copy of the will.
Under s22 of the Powers of Attorney Act a person who is named as a beneficiary of a specific item which is sold, mortgaged, charged or disposed of by a person as an Attorney has the same interest in any surplus money or other property of the Estate as if no sale, mortgage, charge, disposition or dealing had been made. It is therefore prudent to alert the Attorney if they intend to deal with the principal’s property the subject of a specific gift in the principal’s will.
In NSW the only person entitled as of right to view the will of a living incapable person is the NSW Trustee and Guardian. To avoid problems it is recommended that at the time of making the power of attorney specific instructions be obtained as to whether or not the solicitor may provide the attorney with a copy of the principal’s latest will