Representation Agreement vs Power of AttorneySeptember 26, 2019
Knowing the difference between a representation agreement and power of attorney can help to ensure that you invoke the proper legal permissions for somebody to whom you wish to give authority over your legal affairs. At Sidhu & Associates, our team of notaries public are available to help you put together the legal documentation necessary to confirm that your representative has the authority to make decisions on your behalf.
What is the Difference Between a Representation Agreement and Power of Attorney?
The differences between representation agreements and powers of attorney are found within the type of permissions that they grant a representative. Both documents allow somebody to make decisions on your behalf should you become unavailable or incapacitated but the types of decisions that person can make will differ depending on the documentation that they have. In cases for both documents, it is important to ensure that you pick somebody who you can trust to ensure that your will is carried out on your behalf.
What is a Representation Agreement?
A representation agreement will allow your representative to make decisions regarding your health and personal care. These documents are most useful in situations involving ailing family members, aging parents or loved ones, and people facing any kind of serious medical procedure. It is important to have a representation agreement in place because it ensures that decisions can be made in your best interest when you are unable to make those decisions yourself.
What is a Power of Attorney?
When you give somebody power of attorney over your affairs, you are allowing them to make decisions regarding your legal and financial dealings. It is valuable to have a power of attorney set in place in case something happens while you are travelling out of the country or if you need somebody to handle banking for you while you are otherwise occupied. It is especially important to have a power of attorney if you own a business or have people who count on you for their income.
If you would like to learn more about the differences between a representation agreement and power of attorney, or to find out about any services that Sidhu & Associates offers, please contact us at 604-859-4825 or fill out a contact form on our website and we will get back to you as soon as we can.