8,391
edits
Changes
no edit summary
{{REVIEWEDPLS | reviewer = [[Kevin Smith]]|date= November 2017}}{{Managing Money for Someone Else 's Money TOC}}
{{ambox
| type = content
Under [http://canlii.ca/t/849l the law], you have a duty to act honestly and in good faith. Because Martina has placed trust and confidence in you and has given over power to you, the law imposes a duty on you to honour that trust.
[[File:Managing Money for Someone Else's Money-Contents-1.jpg|thumb|275px|right| link=| <span style="font-size:50%;">Image via www.istockphoto.com</span>]]
In managing and making decisions about Martina’s affairs, you must act in her best interests. This means that you must make decisions that are best for her. You must ignore your own interests and needs, or the interests and needs of other people.
===List Martina’s money, property and debts===
To make careful decisions, you need to know what Martina owns and owes. Under [http://canlii.ca/t/8p5w the law], you must make a reasonable effort to determine Martina's property (what she owns) and liabilities (what she owes) as of the date when you start to act on her behalf. You also must maintain a list of that property and those liabilities.
[[File:Managing Money for Someone Else's Money-Contents-2.jpg|thumb|275px|right| link=| <span style="font-size:50%;">Image via www.istockphoto.com</span>]]
Your list might include:
* chequing and savings accounts
==Duty 3. Act within the authority you are given and within the law==
[[File:Managing Money for Someone Else's Money-Contents-3.jpg|thumb|275px|right| link=| <span style="font-size:50%;">Image via www.istockphoto.com</span>]]
An attorney must act within the authority '''given in the power of attorney''' and '''under the law'''.
==Duty 4. Keep good records==
[[File:Managing Money for Someone Else's Money-Contents-4.jpg|thumb|275px|right| link=| <span style="font-size:50%;">Image via www.istockphoto.com</span>]]
As an attorney under a power of attorney, you must keep good records.
The [http://www.trustee.bc.ca Public Guardian and Trustee]’s office can also review your records to check up on you. If that happens, unless the power of attorney says you can’t share your records or Martina objects, you may want to let another family member or friend of Martina’s see the records as a precaution.
{{Managing Money for Someone Else 's Money Navbox}}
{{Creative Commons for PLS
|title = Managing Money for Someone Else 's Money
|author =
}}
__NOGLOSSARY__