Power of Attorney

A power of attorney is a legal document whereby you appoint a person, a friend or family member, who is called the attorney, and who is given the authority to make decisions, manage your affairs and act on your behalf in regard to your financial and legal matters.

A power of attorney can be limited in time and use and can be given to someone for certain specific items and with specific restrictions. You will want to ensure that you have an enduring power of attorney, which can be used in the event that you become mentally incapacitated if you are using a power of attorney as an estate planning tool. Your power of attorney will cease to be effective if you lose mental capacity if you do not have an enduring power of attorney.

By making an enduring power of attorney, you are ensuring that someone you trust will be on hand to manage the many practical, financial tasks that will arise if you become incapacitated. You must ensure that your power of attorney has been prepared in Land Title Office format if you own real property.

Contact Stephen Miller for more information.

Located in: Wills & Estates