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What is a Power of Attorney?

A power of attorney is a written document. In it you give someone, or perhaps different people, the authority to act for you in relation to your property, financial affairs and/or personal care.

What are some reasons to have powers of attorney?
It is always a good idea to plan ahead for your financial and personal affairs. Powers of attorney allow you to give another person the authority to do things for you like:
• cash/deposit cheques, withdraw money from bank accounts, make payments on bills or loans.
• purchase, sell or deal with stocks or bonds.
• collect rents, profits or commissions.
• manage, buy and sell real estate.
• conduct business operations.
• make health care decisions.
• provide consent to medical treatment.

Don’t Delay!
Having a power of attorney can give you peace of mind knowing that if you become physically disabled or mentally incompetent, the person or people that you have chosen will be able to act on your behalf. If you delay in giving the power, you may be unable to do so when you need it.

For more information on powers of attorney, check out our recently updated booklet Powers of Attorney.