Power of Attorney For Seniors

First off, I’m not a lawyer, so this information is simply a guide and not intended to be used as legal advice. 

I understand that many people delay setting up a power of attorney due to worries about potential misuse or simply thinking they'll handle it later, but having one in place is a powerful way to protect your wishes and give you peace of mind.

A POA is a legal document that lets you give authority to another person to make financial and legal decisions for you. Your POA can be:

1. General: your POA is able to make financial and legal decisions for you.

2. Specific or Limited: your POA can only make the financial and legal decisions you set out in the POA, such as taking money out of your chequing account to pay your bills. You can also limit the length of time the POA is valid. Note: A General, Specific or Limited POA ends when you become mentally incapable unless the POA contains an enduring clause.

3. Enduring: is a POA that specifically permits the attorney to continue to act for you if you later become incapable of managing your own affairs.

If your POA covers real estate it must be prepared according to the rules outlined in the Land Title Act of British Columbia. Given the complexity of real estate transactions and the legal implications of selling property under POA, it is highly recommended to consult with a lawyer experienced in British Columbia real estate law. Legal counsel will guide you through the process, help draft any necessary documents, and ensure that all legal requirements are met.  Realtors must be aware of the challenges that exist when representing someone who claims to have the legal right to act on behalf of a property owner on the basis of a POA. Is the POA valid? Was it properly executed? Does it empower the attorney to deal with real estate property? Has it expired? Has it been revoked? Has it been terminated through the death of the grantor? These are all questions that need to be answered before listing a home for sale! 

How to choose a POA? Most people select their spouse, a relative, or a close friend.
Select someone you trust to represent your best interests, not just the closest person to you. Your POA should be nearby for emergencies, calm under pressure, and ideally have some understanding of medical processes. Ensure they agree to take on this responsibility willingly.

Below are two links you may find of value and provide some peace of mind. National Initiative for Care of the Elderly information on Power of Attorney and the  Government of Canada site, what every older adult should know about Power of Attorneys.

Having a POA is part of your long term planning, “having your ducks in a row” as my mom used to say!  If you have any questions regarding this topic or getting your ducks in a row to provide peace of mind, just ask! I’m always just a phone call away. Janet