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Have you given thought as to who would make significant decisions on your behalf if something unfortunate would happen to you?
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Taimoor Qureshi
July 24, 2019
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In one of our blog posts in April 2019, we had gone over vital issues to consider when making a Will. http://www.kormans.ca/key-factors-to-consider-when-making-a-will/
In this entry, we shall cover the Power of Attorney for Personal Care and the Power of Attorney for Property. Two legal documents that are just as essential, if not more so than a will.
Both documents are governed according to the Substitute Decisions Act and allow for an individual (hereinafter referred to as the ‘Donor’) to grant power of attorney to another individual or multiple individuals (hereinafter rereferred to as the ‘Donee(s)’).
A Will outlines your wishes for your financial and personal affairs after your death whereas the Power of Attorney for Personal Care and the Power of Attorney for Property outline your instructions regarding your finances, personal and health care while you are still alive but in a mental and/or physical state that no longer allows you to make cognitive decisions with regard to such matters.
By having these documents prepared and executed ahead of time you as the Donor are authorising your Donee(s) to make decisions at your behest should such a situation arise.
The powers that your donee(s) may have when acting as your Power of Attorney(s) for Property include but are not limited to selling your property, paying your bills and making necessary expenditures on your behalf in order to ensure that both you and your dependant(s) continue to receive the adequate support required to cover your and their needs.
The powers that your donee(s) may have when acting as your Power of Attorney(s) for Personal Care include but are not limited to providing or refusing consent for certain medical treatments on your behalf, making decisions regarding your nutrition, shelter and safety.
You may also choose to place certain restrictions on your Power of Attorneys.
For detailed legal advice on how to prepare a Power of Attorney for Personal Care and a Power of Attorney for Property contact one of our lawyers via email and/or telephone and we would be more than happy to assist you! http://www.kormans.ca/about/
Taimoor’s practice areas include Commercial law; Commercial Leasing; Corporate law; Mortgages; Residential Real Estate; and Wills and Estates.Taimoor was called to the Bar of Ontario and joined Kormans LLP in January 2019.Prior to joining Kormans LLP, Taimoor articled and clerked for boutique law firms where his exposure to residential and commercial matters from beginning to end helped develop his knowledge and skills in the aforementioned areas of la.
Taimoor is a strong believer in efficient client communication and does his best to keep clients as up to date as possible along all steps of a transaction.In his spare time, Taimoor is an avid follower of all major sports and enjoying the outdoors during the summer months.
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