PERSONAL PLANNING: Enduring Power of Attorney FAQ

PERSONAL PLANNING: Enduring Power of Attorney FAQ

 

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On September 1, 2011, the laws in British Columbia changed regarding all  Power of Attorney documents. 

 

What is a Power of Attorney?

A Power of Attorney appoints another person (the “Attorney”) to make financial and legal decisions on your behalf (the “Adult”).

What is an Enduring Power of Attorney?

An Enduring Power of Attorney document allows the Attorney to continue to act, even when the Adult loses capacity.  An Enduring Power of Attorney does not stop you from managing your own affairs, as long as you are capable. 

 

Why is it important to have an Enduring Power of Attorney?

Nobody, not even a spouse, has legal authority over an adult’s financial or legal affairs, even if you become incapable. If you have an Enduring Power of Attorney, your Attorney can make legal and financial decisions on your behalf. If not, the courts have to decide, which can be very time consuming and costly.

Who can make an Enduring Power of Attorney?

You may make an Enduring Power of Attorney if you are 19 years of age or older, and are capable of making decisions. The law presumes you are capable unless it is shown that you are not. The way you communicate is not a factor in deciding whether you are capable.

If you would like to learn more, please call Cheryl at Notaries in Sooke at (250) 642-3318 to arrange for a free consultation appointment.