Everything You Need to Know About Power of AttorneyJune 20, 2023
When it comes to personal planning and legal procedures, power of attorney is a must. Power of attorney (POA) is a vital legal document that allows a person to appoint another entity or individual to make decisions on their behalf if they are unable to do so. At Sidhu & Associates, our Abbotsford notary services provide comprehensive assistance with this process. Here is everything you need to know about power of attorney.
Understanding the Importance of a Power of Attorney
A POA is important because it guarantees that your interests will be upheld in situations where you cannot express them yourself, such as illness or absence. It provides peace of mind, knowing that trusted individuals are in place to manage your affairs responsibly and according to your wishes.Read about the importance of having a power of attorney.
Types of Power of Attorney
There are different types of POA, each suited to specific circumstances. The two most common are General POA, which provides broad powers to the attorney, and Special or Limited POA, which grants only specific powers. In British Columbia, an enduring power of attorney (EPA) continues to be effective even if the person who granted it becomes mentally incapable. This type of POA can be very useful for future planning and should be considered carefully.
Choosing Your Attorney
Choose someone trustworthy, responsible, and competent to serve as your attorney. It could be a relative, a friend, or a professional like a lawyer. The person you select should ideally understand your wishes and be willing to act on your behalf.
In British Columbia, certain legal requirements must be met for a POA to be valid. For example, the principal must be at least 19 years old, understand the nature and consequences of the POA, and not be under any undue pressure to create it.
Revoking a Power of Attorney
A POA is not set in stone. It can be revoked or changed at any time as long as you are mentally capable. It is essential to put the revocation in writing and notify all relevant parties, including the individual or organization named in the POA.
Role of a Notary
A notary public plays an important role in creating a power of attorney. They provide advice, ensure legal requirements are met, witness the signing of the document, and offer assurance of its legitimacy.
At Sidhu & Associates, our team can help guide you through this process, ensuring that your interests are protected and your wishes upheld. Remember, it is not just about legal documentation but about securing peace of mind for the future. So do not hesitate to get in touch with us. Request an appointment or call us directly at (604) 859-4825.