Why you need an Enduring Power of Attorney
An Enduring Power of Attorney allows you to prepare for a time when you may become ill or suffer a disability resulting in your being unable to manage your own legal and financial affairs.
When does an Enduring Power of Attorney take effect
- Immediately; or
- When the donor becomes mentally incapacitated; or
- When another event specified by the donor occurs.
Who should you choose as your Attorney
The attorney you choose should be someone you trust and you are confident will act in your best interests. Make sure you ask your attorney beforehand to ensure they agree to accept this appointment. Any adult or financial institution can be appointed to act as your attorney, and the attorney does not have to live in the same province as you.
Cancelling your Enduring Power of Attorney
As long as you have the mental capacity to do so, you may cancel your Enduring Power of Attorney at any time. This cancellation must be in writing, and all other parties relying on the original Enduring Power of Attorney should be notified immediately. You should then execute a new Enduring Power of Attorney so there is someone appointed to handle your legal and financial affairs in case you are incapacitated.
