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What is a Power of Attorney?
- Authorizing the use of a power of attorney is governed by the Powers of Attorney Act, S.O. 1990, c. P.20;
- A power of attorney is a written, legal document which authorizes another person to make financial and legal decisions on your behalf. It’s an important document needed to protect your finances, health and personal decisions as you age and as life takes place;
- It is important to understand that unforeseen circumstances such as a severe accident or terminal illness can leave you incapacitated;
- Having a power of attorney is to ensure an authorized person can make your wishes knowing or make decisions when it comes to matters concerning your property;
- Power of attorney can also be used in circumstances where you are unavailable to make transactions or deal with other financial/property matters.
What can a power of attorney do?
- Power of attorney for care and personal needs
- Power of attorney for property, to manage financial or business affairs
The legal professionals at Joston work closely with our clients to draft the appropriate documents with all relevant considerations in mind. If circumstances lead to you being incapacitated, we will assist your loved ones with administering your wishes. Power of attorney and Wills are normally drafted at the same time. We recommend you draft a Will when drafting your power of attorney.