Need an Enduring Power of Attorney?Our lawyers can draft one for you.
A Power of Attorney is a legal instrument granting another person the ability to act as your agent or attorney. We need your names, addresses, and the names and addresses of the person you are naming as your attorney.
A Power of Attorney is an instrument which grants a spouse, child, parent, sibling or friend the ability to manage your assets and legal affairs while you are still living. The person appointed in your Power of Attorney can access bank accounts, arrange investments, or sell your home and property.
For example, if you begin suffering from Alzheimer’s and need to live in a care facility, the person you earlier appointed could sell your home so that there will be monies available to pay for your care.
Even if you are healthy, a Power of Attorney is useful. If you spend significant time in warmer climates during the winter months, you may need someone in Canada who has the power to deal with your assets while you are away on holiday.
If you do not have a Power of Attorney and become incompetent, then an expensive court application will be necessary to have someone appointed as your committee before anyone can deal with your assets and sell property if your name is on the title.
Who should I appoint as my enduring Power of Attorney?
Often married couples appoint each other to be their Power of Attorney.
It is also common to appoint a child or a friend as a backup, so that if both parents become incompetent, there is still someone available to handle the finances. You need to appoint someone you trust because that person has the ability to deal with all of your assets.
Most Enduring Power of Attorneys are effective immediately and can be used at any time before and after you become mentally incompetent. While it is possible to draft a springing Power of Attorney that only comes into force when you become mentally incompetent, these can’t be used if you are out of town or immobile.