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Welcome to the
Law Office "Business Law for Owner Managed Businesses" |
If you need assistance
in any of
these
matters,
contact our office
to set up an appointment.**Please note that there may be an initial consultation
fee payable at the time of your appointment.
Or you
can submit
a request
for information
using our
submission form
Powers of Attorney
A Power of Attorney may be given to a trusted individual to look after your Estate during any loss of capacity you may suffer while you are still alive.
WHAT IS A POWER OF ATTORNEY?
A Power of Attorney is a legal document that allows you to give another person authority to act on your behalf for specified matters. Even if you give someone Power of Attorney you do not relinquish the right to continue to act on your own behalf. You still have control of your affairs.
WHEN WOULD IT BE USED?
When you are unable to deal with your affairs. For example:
If you
have
specific questions...
(1) You are incapacitated due to illness
and wish to give a relative, friend or Lawyer the authority to act on
your behalf.
(2) You are elderly and cannot get around very well. You may wish to
have someone make deposits to and withdraw funds from your Bank Account
on your behalf.
(3) You may want someone to have authority to deal with your affairs
while you are away from home for an extended period of time.
WHO CAN BE YOUR ATTORNEY?
Anyone who is of legal age and is mentally competent. Choose someone in whom you trust and who will carry out your wishes (i.e. relative, friend, Lawyer, or Trust Company).
WHAT ARE THE LEGAL REQUIREMENTS?
The Power of Attorney must be in writing and signed and sealed by the donor. Two (2) Witnesses to your signature are also required and should be someone other than the person (s) you appoint as your Attorney(s).
WHAT POWERS WILL MY ATTORNEY HAVE?
A Power of Attorney for Property gives the Attorney power to carry out specific acts regarding your finances (i.e. sell property, make deposits and withdrawals from Bank Accounts). A Power of Attorney for Personal Care gives the Attorney power to carry out specific acts regarding your Medical decisions, such as Long Term Care, Life Support, and approval of medical treatment.
WHAT HAPPENS IF I BECOME MENTALLY INCAPACITATED?
A Donor can provide that a Power of Attorney may continue notwithstanding any mental infirmity providing it has been witnessed by a person other than the person to whom the Power of Attorney is given or his or her spouse.
WHAT ARE THE RISKS IN GIVING A POWER OF ATTORNEY?
There is always the risk the Attorney may abuse the Power of Attorney. The Attorney may also deal with a matter in a manner which is against your wishes but which he or she believes is in your best interests.
WHAT CAN I DO TO PREVENT THE MISUSE OF THE POWER OF ATTORNEY?
- It is wise to have a Lawyer prepare the Power of Attorney document, to ensure all terms and restrictions are clearly identified.
- One may consider appointing two Attorneys to act jointly.
- Check Bank Statements and Cancelled Cheques carefully. Place a limit on the amount that an Attorney can withdraw without additional authorization from you.
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Keep an up-to-date inventory of your property, jewellery, savings, silverware, furnishings and investments.
WHAT CAN I DO IF MY ATTORNEY MISUSES THE POWER OF ATTORNEY?
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If you believe that your Attorney has taken advantage of his or her position you can cancel the Power of Attorney.
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In the event the Power of Attorney is abused, the Donor can sue the Donee (Attorney) for any monies that cannot be properly accounted for.
- If you believe your Attorney is using your property or money without your consent for his or her own benefit, you should consult with a Lawyer and the Police.
WHAT WILL
HAPPEN IF I BECOME INCAPACITATED
AND HAVE NOT PREPARED A POWER OF ATTORNEY?
It will be necessary to apply to the Courts to have an individual appointed to administer your Estate while you are alive yet unable to handle your own affairs. The Public Guardian and Trustee will have full control of your Estate so long as you are incapacitated and such individual is appointed.