Although there are lots of situations where a Power of Attorney can be useful, some of the most common situations are:
- for families where spouses are working overseas/ out of town (including miliary duty)
- for adult caregivers of elderly persons needing to manage their everyday financial and property affairs
- for real estate agents who act under the terms of a specific and limited Power of Attorney to complete a real estate deal (for example when thier clients are on vacation)
Remember! Powers of Attorney can only be used while the donor is alive; Once a person is deceased, a Power of Attorney is invalid and the Will governs.
Have questions about Wills and Estates or Real Estate? – Contact Us: peter@mmslawfirm.ca