9,075
edits
Difference between revisions of "Common Questions on Powers of Attorney"
Jump to navigation
Jump to search
Common Questions on Powers of Attorney (view source)
Revision as of 21:07, 9 April 2017
, 21:07, 9 April 2017→Timing of a power of attorney
Drew Jackson (talk | contribs) |
Drew Jackson (talk | contribs) |
||
| Line 152: | Line 152: | ||
=== When does the power of attorney start? === | === When does the power of attorney start? === | ||
A power of attorney | A power of attorney can be written to come into effect as soon as it is signed. However, even a power of attorney that comes into effect on signing it does not have to be used immediately. Make sure your attorney knows when you want him or her to act. | ||
=== When does the power of attorney end? === | === When does the power of attorney end? === | ||
A '''limited power of attorney''' ends when the job it describes is done, or on the date it specifies. For example, if you make a limited power of attorney to sell a piece of property, the power of attorney ends when the property is sold. | A '''limited power of attorney''' ends when the job it describes is done, or on the date it specifies. For example, if you make a limited power of attorney to sell a piece of property, the power of attorney ends when the property is sold. | ||
A general power of attorney automatically ends in these circumstances: | |||
* If you become incapable, '''unless''' you have an enduring power of attorney clause that makes a power of attorney continue to have effect if you are incapable. | * If you become incapable, '''unless''' you have an enduring power of attorney clause that makes a power of attorney continue to have effect if you are incapable. | ||
You can also cancel a power of attorney at any time. | * If your attorney dies, unless you name an alternate or more than one attorney. | ||
* If you die. | |||
* If the court appoints a '''committee''' to make decisions for you. A committee (pronounced caw-mi-tay or caw-mi-tee, with emphasis on the end of the word) is a person or body (such as the Public Guardian and Trustee) appointed by the court to look after your legal and financial affairs in the event that you become incapable of managing your affairs. | |||
You can also cancel a power of attorney at any time. | |||
=== If you made a power of attorney ten years ago, is it still good? === | === If you made a power of attorney ten years ago, is it still good? === | ||
Yes. However, you should check it over to make sure that it will do what you want and the information is accurate. You may decide to make a new one. | Yes. However, you should check it over to make sure that it will do what you want and the information is accurate. You may decide to make a new one. | ||
It’s a good idea to review all your financial affairs (including your will) every two or three years. Addresses change, and so do people’s lives. Stay up to date. | It’s a good idea to review all your financial affairs (including your will) every two or three years. Addresses change, and so do people’s lives. Stay up to date. | ||