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Mar

26

Continuing Powers of Attorney – Part 2

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Continuing Powers of Attorney

Please note that the information provided herein is not legal advice and is provided for educational purposes only.

In this blog, I’ll briefly review some of the key features of simple durable power of attorneys (also referred to as continuing power of attorneys). Please note that I use the term “durable” and “continuing” throughout interchangeably.

Revoke Previous Continuing Power of Attorney
First, you’ll need to revoke any previous durable power of attorney.

Appoint an Attorney
Next, you’ll need to identify your attorney. Use their full legal name and even adding an identifier (e.g. my son, my spouse, etc.) may help. You can also consider appointing more than one person as your attorney. This may be to share or divide responsibilities and to make sure there are sufficient checks and balances on decision-making; at the same time, it may overly complicate things and cause headache (diverging opinions coupled with joint decision-making authority may cause delays and turmoil!).

Appoint a Substitute Attorney
For whatever reason, in case the individual you appointed is incapable (e.g. vacation, sickness, death) or unwilling (e.g. through retirement) to act as your attorney at the time they need to, you should appoint a substitute attorney.

Authority of Attorney(s)
This part of your durable power of attorney should outline the powers and restrictions on powers which your attorney will have over your property. Here, you can specify for example, that the attorney has the power, in his or her sole and absolute discretion, to make investments, to act as your litigation guardian to commence/defend/represent you in court, to take annual compensation in light of being your attorney, to deal with the Canada Revenue Agency on your behalf, etc. Part of the terms and conditions of the durable power of attorney may also include things like the power to make loans or gifts on your behalf, the power to consult with specific people before decisions are made, and what happens if disputes arise (e.g. are they to be resolved through mediation or arbitration?).

Date of Effectiveness
The durable power of attorney is effective as soon as it is signed and witnesses unless specified otherwise in the actual durable power of attorney. So you may state a specific date or event upon which the durable power of attorney becomes effective.

Signatures
Use blue ink (to show it’s original) instead of black. Also, please refer to my previous blog entry on continuing powers of attorney which addressed some considerations which should be taken into account with respect to your witness’ signatures.

In case you were looking for a Continuing Power of Attorney legal form, look no further:

I’m pleased to announce that we have just released our latest software for 7 Canadian Provinces:

The Power of Attorney Wizard will allow users to make a custom-tailored .pdf Power of Attorney for property and financial matters. There’s nothing else like it on the Internet. It’s been in the works for many months and will be available for the following provinces:

  • Ontario
  • Alberta
  • British Columbia
  • Saskatchewan
  • Manitoba
  • New Brunswick
  • Nova Scotia

So what makes the Power of Attorney Wizard so great? A lot! It is the most advanced, comprehensive, and flexible software out there for making a Power of Attorney (including Enduring Powers of Attorney). The amount of detail that went into this software is truly amazing. Here are some highlights:

  • Very comprehensive (nothing else comes close)
  • Very flexible in terms of the options (again, nothing else comes close)
  • Based on provincial POA laws (unlike other kits)
  • Created by a Canadian lawyer (i.e. me)
  • Comes with free signing instructions
  • Comes with free edits for 90 days
  • Comes with free eBook about Powers of Attorney for your Province
  • It will be regularly updated (particularly when the laws change)
  • Affordable: only $57 + tax!

I’m very excited about the Power of Attorney Wizard. It will go hand in hand with Canada’s #1 Will-creation software: the Will-O-Matic, which is offered exclusively here on DynamicLegalForms.com. I’m sure the Power of Attorney Wizard will get as much fanfare from the public and the press as the Will-O-Matic has received in the short time that it has been around.

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