What is a Power-of-Attorney (POA)
A Power-of-Attorney is a written authorization which grants power to another person to make decisions on your behalf. It is in effect while you are still alive, unlike a will, which only takes effect upon your death.
Two Types of POA’s
In Ontario, there are two types of POA’s : Powers of Attorney for Personal Care and Powers of Attorney for Property. A power-of-attorney is integral in order to give the authority for someone to act on your behalf in the event you are incapacitated. Without a power of attorney, your family members will not have the legal authority to do your banking, file your tax return or other important day-to-day financial or business matters on your behalf. Your family will have to apply to court for this appointment which is costly, timely and unnecessary.
Why Kalfa Law
Powers-of-Attorney are usually created as part of your estate plan together with your Will. At Kalfa Law, our estate lawyers will discuss a comprehensive estate plan for your and your family including both Wills and a pair of POAs. We will assist in selecting the most suitable attorney who will have the authority to make these important decisions relating to your health and property, and care for you during your lifetime.
Need to plan your estate? We’re here to help ™.