A Power of Attorney (POA) is a legal document that grants another individual (your attorney) the right to act on your behalf (grantor or principal) and manage your affairs. The attorney is responsible for executing decisions on behalf of the grantor’s personal, financial, estate and legal matters. Hence, appointing the right person who does not misuse the powers assigned to him by the grantor is crucial.
In Canada, POAs are usually classified in two different ways: General and Enduring. A general power of attorney exists for a specific period of time and is only applicable when the grantor is mentally capable of making his own choices, giving the attorney limited decision-making powers. An enduring or continuing power of attorney authorizes the attorney complete authority to make on grantor’s behalf in the case he becomes mentally incapable or any other conditions mentioned in the POA.
For more information, visit here.
In Canada, POAs are usually classified in two different ways: General and Enduring. A general power of attorney exists for a specific period of time and is only applicable when the grantor is mentally capable of making his own choices, giving the attorney limited decision-making powers. An enduring or continuing power of attorney authorizes the attorney complete authority to make on grantor’s behalf in the case he becomes mentally incapable or any other conditions mentioned in the POA.
For more information, visit here.
No comments:
Post a Comment