What is a Power of Attorney?
A Power of Attorney is part of a legal Plan that says who you give authority to for managing your financial and legal affairs. (Only a Representation Agreement covers health and personal care matters.)
| Areas to cover: | Legal tool to use: |
| FINANCIAL & LEGAL | Enduring Power of Attorney OR Representation Agreement |
| HEALTH & PERSONAL CARE | Representation Agreement – includes living will |
Everyone needs a legal Plan in case they become ill or have an accident and need assistance managing some or all of their affairs. For more about how to make and register your legal Future Care Plan, see the Publications section.
More details about Power of Attorney:
A Power of Attorney can be general or specific. If it is general, it will cover broad financial and legal matters. A specific Power of Attorney will be limited to a time period (eg. perhaps while you are on vacation) or to a specific task (eg. to sell your real estate property) or specific area (eg. bank account).
There are different types of Power of Attorney. These can be general or specific.
1. Bank Power of Attorney is made at your financial institution. It is only good for that particular financial institution and usually only for a specific account. (It won’t help with looking after other financial matters or your personal effects or getting tax information from the Revenue Agency.) Check if your Bank Power of Attorney has an enduring clause.
2. Enduring Power of Attorney will include a sentence that says something like:
In accordance with the Power of Attorney Act, I declare that this power of attorney may be exercised during any subsequent mental infirmity on my part.
This means that the general or specific financial and legal powers you give in the document will continue to be effective even if you become mentally incapable.
3. Power of Attorney without the enduring clause is most commonly used for business purposes. Its powers end if you become incapable.
Other information about Power of Attorney:
• The person you appoint is called your Attorney. This does not mean your lawyer. You can appoint a family member or friend or a corporation such as a Trust Company.
• Any kind of Power of Attorney can only cover financial and legal matters. A Representation Agreement covers health and personal care.
• Any kind of Power of Attorney ends when you die. Then your Will takes over.