Why you need a Power of Attorney

Incapacity Planning: Life is unpredictable, and there might come a time when you are unable to make decisions due to an accident, illness, or cognitive decline. Appointing an attorney allows you to choose someone you trust to manage your financial and legal matters if you are incapacitated.

Continuity of Financial Affairs: If you become temporarily unable to manage your financial affairs, having a Power of Attorney ensures that bills are paid and other financial transactions can continue without disruption. This can even mean that you are going away on holidays and cannot manage your affairs from abroad for any reason.

Personalized Decision-Making: By appointing an attorney, you can choose someone who understands your values and preferences to make decisions on your behalf. This person can make choices that align with your wishes, even if you are unable to communicate them directly.

Avoiding Court Intervention: Without a power of attorney, if you become incapacitated, your loved ones will need to go through a time-consuming and costly legal process to have a guardian appointed to manage your affairs through the court.

This is especially important if you own a home. If your family needs to sell your home to pay for your care or because you can no longer live there, they cannot do that without a power of attorney executed by a legal professional or a court appointment guardian called a committee. The Land Title Office will not accept anything else. A power of attorney executed by a notary public can help avoid the need for court intervention to appoint a guardian.

Long-Term Planning: As you age, having a power of attorney in place can be crucial for managing your finances, and other important matters. It's especially relevant for individuals who want to plan for their senior years.

Peace of Mind: Knowing that you have a trusted person designated to handle your affairs can provide peace of mind to both you and your loved ones.

Preventing Family Disputes: Appointing an attorney can help prevent potential disputes among family members about who should make decisions on your behalf if you become incapacitated.