Power of Attorney
Empower Your Peace of Mind with Forum Estates LLP
A Power of Attorney ensures your trusted person manages certain responsibilities when you cannot. Picture this: an unexpected illness or accident makes you unable to manage your own affairs. Who pays your bills? Who makes financial decisions? A Power of Attorney (POA) ensures your chosen person, your agent, steps in exactly how you intend.
“Too frequently, I hear from relatives who tell me their loved one always intended to do a PoA but never got around to it. Things then become much more complicated…”
Sandra McDonald, Power of Attorney: The One-Stop Guide
“A Power of Attorney ensures your trusted person manages responsibilities when you cannot.”
Why You Need a Power of Attorney
In Canada, over half of adults don’t have a POA, according to recent surveys. Without one, families face costly delays as courts appoint guardians, often without knowing your wishes.
- Decisions are made smoothly, without court intervention.
- Your trusted agents act promptly, during recovery, travel, or if incapacity strikes.
Types of Power of Attorney
| POA Type | When It Applies | Duration |
| General POA | As soon as it is signed | Effective immediately for temporary needs. |
| Enduring POA | Upon signing or at incapacity | Remains valid even if decision-making ability changes. |
Crafting Clear and Effective Powers
Our approach:
- Know Your Agent: Choose someone reliable, organized, and honest.
- Define Powers: Do you want authority over banking, investments, real estate or all?
- Set Reporting Rules: You can require periodic accounting or dual signatures for major transactions.
- Add Safeguards: Include oversight measures or caps on spending to prevent misuse.
What a POA Attorney Can Do and Cannot Do
- Manage finances, pay bills, transfer real estate, oversee investments.
- Act immediately or upon capacity trigger.
- Be held legally accountable to act in your best interests.
- Amend or revoke your will.
- Designate beneficiaries on life insurance.
- Grant POA to others on your behalf.
Choosing Your Attorney:
- Financial judgment and integrity
- Availability and willingness to act
- Willingness to report and be held accountable
Why Forum Estates LLP Stands Apart
- Clear Documentation: Precise language reflecting your intentions.
- Remote-Ready Service: Secure video execution with live oversight--even if you’re out of province or abroad.
- Accessible Processes: Remote signing options for your convenience.
- Client-Centric Care: We translate legal language into empathetic guidance for your real-life needs.
Your POA Roadmap with Forum Estates
- Consultation – Discuss your wishes, beneficiaries, and concerns.
- Document Drafting – We draft enduring POAs, personal directives, and coordination with your will.
- Remote Signing – Videoconference with our team ensures proper execution.
- Ongoing Review – We recommend periodic updates (every 3–5 years) or after major life events.
FAQS
1. What is a Power of Attorney and why might you need one?
A Power of Attorney allows you to appoint someone, called an attorney-in-fact or agent, to manage your finances or legal affairs if you become unable to do so. It ensures that trusted individuals can act on your behalf without court intervention.
2. What are the main types of Power of Attorney?
There are three core types. A general POA grants broad authority over finances and legal matters. An enduring POA stays valid if you become incapacitated.
3. What does “Enduring Power of Attorney” mean?
An enduring Power of Attorney remains legally valid even if you lose mental capacity. Without the durability clause, the authority would expire at the moment you become incapable, leaving your affairs unmanaged during a critical period.
4. When should you activate your POA?
5. Can I revoke or change my Power of Attorney?
6. Who should I appoint as my Attorney-in-Fact?
Choose a person whom you trust and who is well organized and able to make crucial decisions on your behalf. Spouses, adult children and close friends are the usual options. It would be prudent to appoint a backup, also in case your first choice is not available.
7. What duties does an Attorney-in-Fact have?
8. Does a POA need to be notarized or witnessed?
Depending on your province or state, the requirements vary. The majority of legal POAs are notarized; even healthcare POAs sometimes require two adult witnesses. It is advisable to check local regulations or seek legal advice to ensure the document is enforceable.
9. Would my POA agent be able to make gifts and plan estates?
Only when your power of attorney document expressly gives this discretion. Courts are very likely to curtail gifting powers where not specifically expressed. When it comes to a larger gift or an alteration of the estate plan, it is always advised to consult a lawyer in order to avoid conflicts.
10. Will my POA agent access my bank and investments?
Yes, when you grant financial authority, banks may still require specific wording or completion of their internal questionnaires. Before granting access to funds, they typically require a valid, notarized power of attorney document.
11. What’s the difference between POA and guardianship?
12. When is legal help important for a POA?
Expert advice is necessary when tasks are complex, such as when power is delegated to another person to manage a business, or when specific instructions are required. To have a POA that will not contravene the existing laws and serve your interests appropriately, a lawyer may be your way out.
Make It Count. Make it Custom.
Fool-proof to uncertainty, that’s the promise of a well-drafted Power of Attorney. With Forum Estates LLP, that promise becomes your safeguard, built with compassion, legal depth, and modern accessibility.
