Peter J. Georgas graduated from the combined Juris Doctor / Masters of Business Administration program at the University of Toronto and was called to the bar of Ontario in 2017. He also holds a Masters...Peter J. Georgas graduated from the combined Juris Doctor / Masters of Business Administration program at the University of Toronto and was called to the bar of Ontario in 2017. He also holds a Masters of Applied Science degree in mechanical engineering from the University of British Columbia. He is currently practicing as a lawyer in Toronto in corporate and securities law.
Are you in charge of your own affairs?You may be well organized and have all your financial papers filed and ready to access if something should suddenly happen to you. You may update your will regularly and rest assured that your family is well taken care of. But what would happen if you suddenly became incapacitated? How would your spouse or family access your bank account or take care of your affairs?
You might want to grant a power of attorney to your child to provide for your care as you grow older, or you might want someone to take care of your financial affairs while you take an extended vacation. In any case, a power of attorney is a useful document giving someone the authority to act on your behalf on certain matters.
Now, you can draw up your own power of attorney. This book tells you everything you need to know and provides blank forms for your convenience. Among other things, it answers these questions:
• What is a power of attorney?
• What if I want to hand power over for a limited time?
• Will my money be safe under a power of attorney?
• Can I make arrangements for my Canada Pension Plan and Old Age Security cheques?
• Is the procedure different depending on the province?
• How can I terminate a power of attorney?
• How do I write my own power of attorney?
Use this kit and plan now for a safe, comfortable future! The included downloadable forms kit contains blank forms in MS Word and PDF formats.
Forms included on the downloadable forms kit:
• Power of Attorney
• Affidavit of Witness
• Renunciation of Attorney
• Revocation of Power Instructions included.
1 INTRODUCTION 1
1. What is a power of attorney? 1
2. Agency 1
3. How is an agency created? 2
4. Who can be a principal and an agent? 2
2 LEGAL CONSIDERATIONS 3
1. What is in a power of attorney? 3
1.1 Special and general powers of attorney 3
1.2 Administering benefits under the Old Age Security Act
and Canada Pension Plan 3
2. Duties of the donee 4
3. Signing the power of attorney 4
4. Terminating a power of attorney 4
4.1 Fulfilment of a specific event 4
4.2 Revocation by the donor 5
4.3 Renunciation by the donee 5
4.4 Bankruptcy of the donor 5
4.5 Death or mental incompetency of donor 5
4.6 Legal advice 6
5. The effects of termination 6
5.1 General principles 6
5.2 Provincial exceptions 6
3 PREPARING A POWER OF ATTORNEY 18
1. Drafting clauses 18
1.1 Revocation 18
1.2 Authority to delegate acts 18
1.3 Substitute attorneys 18
1.4 Indemnification 18
1.5 Compensation 18
2. Special provincial considerations 19
2.1 British Columbia 19
2.2 Alberta 28
2.3 Saskatchewan 28
2.4 Manitoba 30
2.5 Ontario 30
2.6 New Brunswick 36
2.7 Nova Scotia 36
2.8 Prince Edward Island 36
2.9 Newfoundland and Labrador 37
2.10 Yukon 37
2.11 Northwest Territories 37
3. Summary 37
POWER OF ATTORNEY AND OTHER FORMS 39
1 Power of attorney (General) 7
2 Power of attorney (Special) 11
3 Power of attorney (Special: Banking arrangements) 13
4 Undertaking to administer benefits under the Old Age Security Act 15
and/or the Canada Pension Plan
5 Certificate of incapability 16
6 Revocation of power 17
7 Renunciation of attorney 17
8 Notice of revocation of power of attorney (British Columbia) 22
9 Power of attorney — Form 1 (British Columbia) 23
10 Power of attorney — Form 2 (British Columbia) 24
11 Power of attorney — Form 1 (Land) (British Columbia) 25
12 Power of attorney — Form 2 (Land) (British Columbia) 26
13 Statutory declaration (British Columbia) 27
14 Power of attorney for land dealings (Alberta) 29
15 Revocation of power of attorney (Alberta) 30
16 Continuing power of attorney for property (Ontario) 32
17 Power of attorney for personal care (Ontario) 34
18 Form of power of attorney (Prince Edward Island) 38