Article provided by: Bastion Estate Law
Everyone has concerns about what would happen if they become incapacitated and unable to handle their financial affairs or make critical medical decisions. A power of attorney in Calgary gives you the ability to authorize another person to act on your behalf in case you are not able to do so.
What is Power of Attorney in Calgary?
A power of attorney in Calgary is a legal document that allows you to give another person the authority to act on your behalf and manage your legal and financial matters. A power of attorney gives an authorized person to handle your financial needs, such as paying your bills, applying for benefits, collecting benefits and pensions, monitoring your investments, and protecting your assets. It is essential to place this responsibility on someone you trust. You must provide the person with details on how to handle your affairs and how to access documents, bank accounts, and other vital information.
Types of Power of Attorney
There are several types of options for power of attorney in Calgary. These include a non-continuing power of attorney, a continuing power of attorney, and a power of attorney for personal care. A non-continuing power of attorney is in place for a specific period and specific tasks. A continuing power of attorney allows a person you designate to handle your affairs if you become unable to do so because of mental or physical incompetence. A personal care power of attorney, also sometimes called a healthcare directive, is a document that provides specific instructions for how to handle situations regarding your medical treatment and care.
Who Needs a Power of Attorney?
It is a good idea for every adult to put a power of attorney in place. It is particularly critical for those who are elderly or ill to put this type of document in place. If you suddenly become incapacitated, only a person with power of attorney will be allowed to take care of your financial needs legally. A power of attorney in Calgary is something that you can put in place ahead of when you may require its use. You may also want to put a power of attorney in place before you undergo surgery.
Benefits of Power of Attorney
There are several benefits of having a power of attorney in place. A power of attorney will give you peace of mind that someone you trust will handle your financial matters if you become incapacitated. With a power of attorney in place, you and your loved ones will know exactly how to manage your needs and will be able to act by your wishes. You won’t put any unnecessary burden on your loved ones because they will have direction from you on how to take care of your affairs. Also, your loved ones will have immediate access to your finances so they won’t have to take complicated steps to gain control of your affairs. At Bastion Estate Law, we have the experience to assist you with drafting and implementing a power of attorney document that meets your needs.Power of Attorney Calgary
View Larger Map