POWERS OF ATTORNEY
What is a Power of Attorney?
A legal document whereby a person appoints one or more persons to look after their financial affairs by allowing the person appointed (the attorney) to sign documents on their behalf. A Power of Attorney is a very powerful document and should only be granted to a trusted individual after due consideration.
Why Should I Have One?
As a precaution: in the event that you experience an illness, an accident, if you travel and may be out of town when a situation arises that requires your attention and signature such as completing documents for a real estate transaction, bill payments, and other matters requiring your attention and signature.
What Happens if There is No Attorney Appointed?
If you have not appointed a person as your attorney and you become mentally incapacitated, no one has the legal right to act on your behalf (not even your spouse). Your finances may not be available to pay your rent, utilities and other expenses. Assets like a home or a vehicle cannot be sold, even if you can no longer live in the home or drive a vehicle. Of particular importance, a home or land held jointly by two or more individuals requires the signatures of all individuals to sell, mortgage or otherwise deal with.
Once an individual has become incapacitated an attorney can no longer be appointed. In this instance the Public Trustee will be required to administer his/her affairs. If a family member or trusted friend would like to take control of a loved one’s affairs he/she must apply to the Courts for a legal Committee-ship which is time consuming and costly. The person named as the Committee will have to report to the Public Trustee as to what decisions he/she has made and give an accounting of money spent. This costly and lengthy process can be avoided with a Power of Attorney.
Call Us at 604-591-7171
Our Office Location
Shahnaz Rahimtula, Notary Public
Unit 202 (corner of 72A Ave. and right on 137 St. behind Save on Foods)
7288 – 137 St, Surrey BC V3W 1A3