It’s important to have someone who can act as your agent if you’re unavailable due to illness, travel, or other circumstances. Unavailability: To protect your interests and assets from being misused or taken advantage of by others when you are unavailable. There are many reasons why someone would need a power of attorney, but here’s what we’re most concerned about: The principal may revoke a power of attorney by informing their agent orally or in writing – but only if both parties agree otherwise, execution becomes ineffective immediately upon revocation since no longer giving permission for another person (acting as a proxy). The person granting the POA (principal) must be mentally competent at the time of signing and understand what they’re doing when they sign this document so you know if it’s valid before executing any transactions with them as their representative! It can give broad authority to an agent or narrow it down to a specific task, like selling property or signing documents. In this blog post, we will discuss the basics of power of attorney in Canada and why it is important for everyone to have one.Ī power of attorney is a legal document that authorizes someone to act on your behalf in certain situations. There are different types of power of attorney, each with its own set of rules and regulations. That is, this can be extremely helpful in situations where the person with power of attorney is unable to make decisions for themselves. It’s an important document to have, especially when you get old. This legal document allows someone to act on your behalf in certain situations, such as if you become incapacitated. ![]() But what is a power of attorney? Why do I need it? And when should I use it? ![]() ![]() If you’re like most Canadians, you probably don’t think about the power of attorney until you really need it. What Is a Power of Attorney and Does It Need to Be Notarized in Canada
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