Many people aren\u2019t exactly sure what a power of attorney is,\nand if they need one. For this reason, we\u2019ve outlined the key points about this\nand what it means to you. A power of attorney (POA) is a legal document that gives\nsomeone (it can be more than one person) the power to make decisions on either your\npersonal or financial affairs or both, most often in the situation that you may\nbecome mentally or physically incapable. This assigned attorney has the\nresponsibility to look after your affairs while acting with integrity at all\ntimes while keeping your wishes and best interests at the forefront. <\/p>\n\n\n\n
Power of attorney – personal\ncare<\/strong><\/p>\n\n\n\n If you become physically or mentally incapacitated due to\nillness, injury, dementia, and so on, you can assign an attorney (or agent) to\nbe in charge of decisions around your health and\/or personal care including\nday-to-day living, hygiene, medical care and so on. In many cases, a doctor\nmust asses your abilities to ensure that you are indeed not able to make such\ndecisions. <\/p>\n\n\n\n Within your power of attorney, you can also set up a living\nwill. This is a document that outlines your intentions for end-of-life care and\nmedical interventions you may or may not want. Your family will thank you for\nhaving a living will in place, as it means they won\u2019t be in a position to make\nsuch critical decisions as you\u2019ve already listed what you want to have happen. <\/p>\n\n\n\n Power of attorney – property\n<\/strong><\/p>\n\n\n\n When it comes to having a power of attorney for your\nproperty and assets, there are two choices. <\/p>\n\n\n\n The key responsibilities of your attorney include: <\/p>\n\n\n\n Choosing your power\nof attorney <\/strong><\/p>\n\n\n\n You\u2019ll need to pick an individual (or two) you trust for\nthis important job, who must also be up to the job both mentally and\nphysically. There could be doctor\u2019s visits, banking appointments, forms and\napplications to complete and so on. <\/p>\n\n\n\n In terms of your assets and your portfolio, be sure that\nyou\u2019ve found someone who understands the world of finance, and who\u2019s organized\nenough to keep careful records. If you\u2019d rather hire a professional for this\ntask, there are agencies who can provide someone to be your power of attorney \u2013\nwith a fee of course. <\/p>\n\n\n\n When you don\u2019t have a\npower of attorney<\/strong><\/p>\n\n\n\n Without a power of attorney in place, if you become incapacitated,\nthings can get tricky. While in some cases there may be an obvious, close\nfamily member appointed as a guardian or substitute, it may not be a person you\npersonally want in charge of your personal health or property. If others\ndispute this appointment or there simply is no one available, the process to\nappoint someone can be time-consuming, expensive and ultimately have a negative\nimpact on your personal and financial well-being.<\/p>\n\n\n\n Seeking legal advice <\/strong><\/p>\n\n\n\n As you can see, leaving your health, and financial welfare\nin the hands of others is a serious consideration. Retaining the services of a\nreputable lawyer who specializes in wills and estates is always a good idea. At\nAres Law, drafting up your power of attorney, your living will, and\/or your\nlast will and testament is exactly what we do for our clients! We\u2019ve got your\nbest interests at heart at all times, and you\u2019ll get sound legal advice about\nthe process along every step of the way. Connect with us today at our Parry\nSound office \u2013 705-746-6444; we\u2019re here for you. <\/p>\n","protected":false},"excerpt":{"rendered":" Many people aren\u2019t exactly sure what a power of attorney is, and if they need one. For this reason, we\u2019ve outlined the key points about this and what it means to you. A power of attorney (POA) is a legal document that gives someone (it…<\/p>\n","protected":false},"author":1,"featured_media":1483,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","footnotes":""},"categories":[1],"tags":[116,55,169,52,58,33,110,45],"class_list":["post-1482","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-ares-law","tag-muskoka","tag-power-of-attorney","tag-real-estate","tag-real-estate-law","tag-real-estate-lawyer","tag-real-estate-lawyer-parry-sound","tag-real-estate-muskoka"],"yoast_head":"\n