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Difference between revisions of "You Have Been Appointed as an Attorney"
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You Have Been Appointed as an Attorney (view source)
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{{REVIEWEDPLS | reviewer = [[Kevin Smith]]|date= January 2018}}{{Managing Someone Else's Money TOC}}Like many people, you may never have been an attorney under a power of attorney before. That’s why ''Managing Someone Else's Money'' was created. This guide will help you understand what you can and cannot do in your role as an attorney. | {{REVIEWEDPLS | reviewer = [[Kevin Smith]]|date= January 2018}}{{Managing Someone Else's Money TOC}}Like many people, you may never have been an attorney under a power of attorney before. That’s why ''Managing Someone Else's Money'' was created. This guide will help you understand what you can and cannot do in your role as an attorney. | ||
In the role of attorney, you are a '''fiduciary'''. A fiduciary is someone who is in a position of trust toward another person. A fiduciary has duties and responsibilities. This guide will help you understand what those are. It also offers tips to help you avoid problems, and resources | In the role of attorney, you are a '''fiduciary'''. A fiduciary is someone who is in a position of trust toward another person. A fiduciary has duties and responsibilities. This guide will help you understand what those are. It also offers tips to help you avoid problems, and resources to find more information. | ||
This guide is for family and friends serving as an attorney, not for professionals or organizations. The guide does not give you legal advice. Talk with a legal professional if you have questions about your duties or responsibilities. | This guide is for family and friends serving as an attorney, not for professionals or organizations. The guide does not give you legal advice. Talk with a legal professional if you have questions about your duties or responsibilities. | ||
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Let's start with a scenario about how you might have become an attorney under a power of attorney.  | Let's start with a scenario about how you might have become an attorney under a power of attorney.  | ||
Your family member or friend is worried | Your family member or friend is worried she will get sick and won't be able to pay her bills or make other decisions about her savings and her house. For this guide, let’s call her '''Martina'''. Martina has signed an '''enduring power of attorney'''. This kind of power of attorney continues if the person making it becomes mentally incapable. In it, Martina names you as her attorney. She gives you the power to make decisions about money, property and other legal matters for her. | ||
The law gives you a lot of responsibility as Martina’s attorney under her power of attorney. You are now a fiduciary with '''fiduciary duties'''. | The law gives you a lot of responsibility as Martina’s attorney under her power of attorney. You are now a fiduciary with '''fiduciary duties'''. | ||
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If you do not carry out these duties, you could be removed as an attorney, sued or have to repay money. | If you do not carry out these duties, you could be removed as an attorney, sued or have to repay money. | ||
It is even possible | It is even possible the police or a public official (the [http://www.trustee.bc.ca Public Guardian and Trustee]) could become involved. They can investigate you and bring you before a court. | ||
It’s always important to remember: '''It’s not your money!''' | It’s always important to remember: '''It’s not your money!''' | ||
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* if there are multiple attorneys, the potential for disagreement with them | * if there are multiple attorneys, the potential for disagreement with them | ||
Consider whether the power of attorney provides for the attorney to be paid for their time. [http://canlii.ca/t/849l The law] says | Consider whether the power of attorney provides for the attorney to be paid for their time. [http://canlii.ca/t/849l The law] says you can be paid for acting as an attorney under an enduring power of attorney '''only''' if the document says you can and sets out the amount or rate. | ||
If you decide not to act as attorney, you may resign. You can do so by giving written notice to the adult and any other attorneys named in the power of attorney. If the adult is incapable of making decisions at the time you resign, you must also give written notice of the resignation to a spouse, near relative or (if known to you) close friend of the adult. | If you decide not to act as attorney, you may resign. You can do so by giving written notice to the adult and any other attorneys named in the power of attorney. If the adult is incapable of making decisions at the time you resign, you must also give written notice of the resignation to a spouse, near relative or (if known to you) close friend of the adult. | ||