A Power of attorney is a legal document that grants a trusted person the ability to act as your agent under certain conditions. Wills and estate lawyers in Prescott-Russell recommend having a Power of attorney as part of your estate plan to make it easier for your family if you become unable to manage your affairs, either temporarily or permanently. There are two types of POAs in Ontario.
Power of Attorney (POA) for Property
This type of POA generally refers to financial matters, from paying bills to selling real estate. You can also grant POA powers for specific tasks or situations. For example, if you were going to be out of the country for a few months or longer, you could give an agent the authority to pay your bills from your checking account while you’re away. You can also grant someone the power to act broadly on your behalf if you were to become ill or incompetent. Discuss your POA needs with wills and estate lawyers in Ottawa at Simard & Associates.
Power of Attorney for Personal Care
This type of POA lets your agent make healthcare decisions in the event you become incapacitated. This can include a wide scope of things, from deciding which doctors oversee your medical care, what type of medical care you receive, and who cares for your everyday needs. You have the ability to limit the powers of your POA as you want. This type of POA could also be granted temporarily or permanently.
You Decide What Authority Your Power of Attorney Has
When you’re working on your will and estate planning in Rockland, your lawyer can help you decide what powers your power of attorney grants to your agent. Find out everything you should know about wills and powers of attorney and contact us to make an appointment and get started.