New power of attorney laws came into effect in Victoria on 1 September 2015. Significant changes have been made to the types of enduring powers of attorney that are available, together with strengthened provisions to deal with misuse and abuse of enduring powers of attorneys. This event discussed the key changes, including:
- types of enduring powers of attorney under the new legislation
- capacity and execution of enduring powers of attorney
- conflict transactions
- the effect of new legislation on existing powers of attorney
- the role of the "supportive attorney'
- penalties for a breach of obligations by an attorney
- estate planning opportunities under the new legislation
- a practical discussion of enduring powers of attorney and different roles, including trustees, directors and appointors
- enduring powers of attorney and superannuation (including binding death benefit nominations).