A Power of Attorney is a very important and powerful legal document that everyone should have, no matter whether you are single, married, a retiree, travel often or have a job that requires you to be overseas.
In this document, you designate another person or persons to make decisions on your behalf for all matters or specific ones, depending on what you require. The person you appoint will be the one making all of your non-medical decisions for you when you are not able to do so.
Essentially, you are giving someone else the power and control over your affairs when you are unable to act yourself.
Serious thought needs to be given as to who you will appoint as your Attorney. Remember that this person will be in charge of important matters and will be making decisions for you, so take your time and choose an Attorney wisely. Whoever you choose will have access to all of your personal information and assets, including your finances. Ultimately, you want to choose a person or people that you completely trust.
As with most personal planning documents many people put off designating an Attorney until a later date but it’s important to remember that it should be in place prior to when it will actually be needed. IE; you are hospitalized and unable to pay your bills or deal with the Government or ICBC or you are unable to make your own decisions. Remember that to appoint an Attorney you must be of sound mind at the time of granting the Power of Attorney in order for it to be enforceable under the law.
Reality is, everyone should have a power of attorney. It will give you peace of mind knowing should it be needed, you are the one that made the decisions regarding who will act in your stead when you no longer can. Contrary to what many believe, your family does not automatically gain access to your life and cannot act on your behalf should you become incapacitated or are unable to be present in person in certain circumstances. If you have not appointed and Attorney, your family will have a very difficult time with banks and government agencies without the Power of Attorney. Due to privacy laws your family may even be denied information because this document cannot be produced!
A Power of Attorney can be revoked by you at any time provided your have the mental capacity to do so. You can also change who your Attorney is at any time.
If you would like to discuss appointing an Attorney, contact Wendy Fuller Notary Public in Vancouver today. She will answer any questions you may have.
Also Read: Important Considerations when Writing a Will