What is a Power of Attorney for Property?

 

Power of Attorney for Property (POA) Newmarket, Ontario

According to the Attorney General for Canada the definition of a Power of Attorney is; “a legal document that gives someone else the right to act on your behalf”.

Also according to the Attorney General the term “attorney
refers to the person or persons you have chosen to act on your behalf. He or she does not have to be a lawyer”.

There Can Be Two Types of POA for Property:

  • A Continuing Power of Attorney for Property (CPOA) covers your financial affairs and allows the person you name to act for you even if you become mentally incapable.
  • A Non-continuing Power of Attorney for Property covers your financial affairs but can’t be used if you become mentally incapable. For example, you might grant this Power of Attorney if you need someone to look after your financial transactions while you’re away from home or your business for an extended period of time.

Whether Business or Personal We Can:

  • Consult with you in determining the best person/people to act as your Power of Attorney for Property.
  • Support you if you are a POA and need assistance dealing with;
    • government, taxes
    • the required reporting
    • dealing with outside businesses and individuals, as impartial mediators
    • Short term business management

Act as Your POA:

  • We come to this position with no pre-determined agenda
  • All financial transactions and communication are carefully documented
  • We act in your best interest and handle every matter in a timely and confidential manner