Wills and Estates: Power of Attorney, part 2 of 4.
A Power of Attorney is a legal document that gives someone else the power to act on your behalf.
Having a Power of Attorney can save much stress, cost and confusion particularly if a family member is suffering from declining health. Have a valid Power of Attorney minimizes situations where the Office of the Public Guardian and Trustee (Ontario Government) becomes involved thus leaving to families control over their own care.
A Power of Attorney is not a Will and becomes invalid if you die. The Powers granted to the executor of your Estate under your Will do not arise unless you die.
A Power of Attorney is an invaluable tool to have and becomes increasingly important as we age, although no one over the age of 18 years should be without one.
Fortunately, the cost of having a lawyer prepare one is quite reasonable. If you already have a Will, a review of it with your lawyer is an excellent idea and need not be expensive as our circumstances and families change over time.
Part 1: What is a What is a Power of Attorney?