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Powers of Attorney
A Power of Attorney is a written document
which allows you to appoint an "attorney or
attorneys" to act on your behalf. It essentially
gives the attorney(s) the same powers that you
have to deal with your assets and your personal
care. A Power of Attorney is only valid after it
is signed until it is revoked or the person who
gave it (the "Grantor") dies. A Power of
Attorney does not operate after the Grantor
dies.
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Powers of Attorneys are usually granted to
allow the attorney(s) to make decisions on your
behalf in the event you become unable to make
those decisions on your own at some future time.
Powers of Attorney are very powerful
documents and should only be given after careful
consideration to individuals that are completely
trustworthy. It is wise to leave them in your
lawyers vault so they cannot be accessed by the
Attorney(s) until you want them released. It is
important to understand that Powers of Attorney
are capable of being used as soon as they are
signed.
Because a Power of Attorney is effective
until death (unless it is earlier revoked) and a
Will is effective on and after death, it is
advisable to have a Will and Powers of
Attorneys.
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Operate
before and after Incapacity |
A Power of Attorney can operate both before
and after the incapacitation of the Grantor.
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There are two types of Powers Of Attorneys:
Power of Attorney for Personal Care ("PAPC")
and Powers of Attorney for Property
("PAP")
PAPC usually give the attorney power to make
decisions about the personal care of the
Grantor, such as health decisions, and decisions
about whether the Grantor should be moved into a
nursing home.
PAP usually give the attorney power to make
decisions about the property and liabilities of
the Grantor, such as decisions to sell a house
or car, or to write cheques on the Grantor's
accounts.
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Powers of Attorney can be restricted as much
as you like. They can be limited to a certain
time period or to a certain asset. Consult with
your legal advisor to understand how your power
of attorney should be limited.
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The term "living Will" is actually a
misnomer because it actually refers to a power
of attorney for personal care (and not a Will)
which contains language which directs the
Attorney to allow the Donor to die in dignity
and without pain should the Donor's condition be
critical and irreversible. There may be specific
language requesting a DNR (do not resuscitate)
in certain circumstances.
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