LAURIER LAW OFFICE

8623 - 149 Street Edmonton, AB T5R 1B3
Phone: (780) 486-0207 Fax: (780) 483-0848

POA

What is an Enduring Power of Attorney?

  •     An Enduring Power of Attorney provides a simple, straightforward and inexpensive means for you to plan for your  own incapacity.

 

  •     An Enduring Power of Attorney allows you to plan for the future management of your affairs.  It allows you to chose someone to manage your property and financial affairs when you are mentally incapable of doing so yourself.

Why should you have an Enduring Power of Attorney?

  •     A loss of capacity is a fact of life for a growing number of Albertans.  Chronic and degenerative illnesses are becoming common.  Sometimes the onset of incapacity is gradual, such as in Alzheimer’s victims; other times it is sudden, such as in accident or stroke victims.

 

  •     An Enduring Power of Attorney allows you to choose someone now whom you trust to look after your property and financial affairs should you become incapacitated and not be able to do so yourself in the future.  It can take effect immediately or only when you lose mental capacity.

 

  •    Having an Enduring Power of Attorney now can eliminate a costly court application under the Dependent Adults Act to appoint a trustee to look after your affairs should you become incapacitated and not have an Enduring Power of Attorney.  A court order is not required to make an Enduring Power of Attorney valid.

 

  •    Having an Enduring Power of Attorney now can eliminate the costly and time consuming court applications to have all accounting records approved in accordance with the mandatory requirements imposed on a trustee appointed under the Dependent Adults Act.

Does an Enduring Power of Attorney have to be prepared by a lawyer?
Until recently, according to the law, you had to sign the Enduring Power of Attorney in the presence of a lawyer who could ensure that you understood the nature of the document and that it was signed properly.  The law has been changed.  It is not longer a legal requirement that a lawyer prepare your Enduring Power of Attorney but a lawyer can ensure that it is prepared properly, that you understand the nature of the document, and that it is signed correctly.  If it becomes necessary to use your Enduring Power of Attorney, it is, at that point, too late if it has not been prepared properly.