201-122 Clarence Street, Ottawa, Ontario, K1N 5P6 T: (613) 562-4833
WHAT IS A POWER OF ATTORNEY?
A power of attorney is a type of legal document which allows a person to give another person or persons the authority to act on their behalf and manage their money and property. There are two types of powers of attorney in Ontario: a general power of attorney and a enduring/continuing power of attorney.
An individual must be sixteen (16) years old and have the necessary mental capacity at the time the power of attorney is signed for it to be considered valid.
A general power of attorney provides someone with the authority to act on your behalf with respect to the management of your money and property so long as you are mentally capable of managing your own affairs. On the other hand, an enduring/continuing power of attorney provides someone with the authority to continue to act on your behalf with respect to the management of your money and property even if you are no longer capable of managing your own affairs.
An enduring/continuing power of attorney can also provide someone with the authority to continue to act on your behalf with respect to your personal care.
WHY A POWER OF ATTORNEY?
Powers of attorney are flexible and convenient. They provide you with certainty with respect to the management of your money, property, or personal care, especially in the event that you become mentally incapable of managing your own affairs, which is increasingly important in this age of uncertainty. It is not surprising then that selecting a power of attorney is a serious matter. Your attorney should be someone that you trust, such as a parent or family member. In addition, your attorney should be financially competent and very reliable.