Calgary Power Of Attorney Lawyers
A power of attorney, or POA, is a legal document where you appoint a representative to act as your attorney (agent). This person can make legal and financial decisions for you and deal with your assets including vehicles, land, homes, businesses, bank accounts, investments, etc. By having our Calgary lawyers draft one for you, you can decide, while you have capacity, who you trust to act for you when you cannot.
Kahane Law Office understands the law. The Power of Attorney documents are governed in Alberta by the Powers of Attorney Act. All such documents absolutely need to adhere to the law. People refer to an Enduring power of attorneys by other names too. For example, people sometimes call them a durable power of attorney.
Power of Attorney Varieties
In Alberta, lawyers use three main types of these documents to appoint someone signing authority for you. For example, the three type used are:
This allows a specific person to act on your behalf for a specific circumstance such as buying or selling a home or running a business. The ability for your representative to use it starts on proper execution of the document. The person with authority to sign receives not additional authority, other than that specifically laid out.
These documents allows a person to act on your behalf in most matters. The signing authority given includes a broad range of authorization. You can limit the scope by time but a general power of attorney encompasses all aspects of your life with respect to dealing with your assets. Learn more about a General Power Attorney here.
This type of power of attorney allows someone to act on your behalf. However, it also include a provision for the eventuality that you lose mental capacity. A variety if enduring POAs exist. For example, these include:
This variety exists for situations where you want your attorney to only receive authorization to act for you IF you lose your mental or legal capacity. The document “springs” into action, on that trigger. A variety of “tests” or conditions exist that you decide between to setup to determine when you are considered incapacitated.
Specific and general powers of attorney can be effective on signing but then continue past incapacity. For legal effectiveness, the document must clearly state that in the POA shall continue to give authority in the event of a loss of capacity.
Choosing A Personal Representative Is ImportantWhile mentally incapacitated, you are unable to make these determinations for yourself. One of the biggest challenges to drafting a POA is for a client to decide whom they trust to act for them. We help think of the important points to consider, however, the decision is ultimately yours to make.
Failing To Plan For A Capacity Loss
Many people make no provisions for a loss of their mental capacity. Without an enduring power of attorney, someone needs to apply to the courts to be able to make decisions on your behalf. This process is both costly and time consuming. This only adds to the stress on a family at a time that their loved one lost the ability to make their own choices.
There are times where different individuals with different agendas may apply for this decision making role. Further, in the absence of your giving signing authority; there may be a costly fight for control of your assets. Without one, a public trustee may make financial decisions for you. Lastly, our litigation lawyers are able to assist in situation where there is a dispute as to who is the most appropriate person to have represent an incapacitated individual.
Getting Your Power of Attorney Today
Our lawyers in Calgary help you understand the complexities of the different powers of attorney and can help draft one to fit your needs. Since the rights often include significant powers, proper drafting is essential. Kahane Law Office assists clients in all matters relating to powers of attorney. You can reach us toll-free at 1-877-225-8817, 403-225-8810 locally or email us directly here.