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[00:00] OPENING MUSIC
[00:12] Welcome to a new episode of “Just a Minute” by Landmark Law. This episode is presented to you by Mabel on July 14 2023, to help educate our listeners on various legal scenarios.
[00:25] BELL CHIME
[00:27] This week’s podcast finishes off Continuing Power of Attorney, focusing on the qualifications of a Continuing Power of Attorney of Property.
[00:35] Your landlord, social worker, counsellor, teacher, advocate, doctor, nurse, therapist or other health care provider, homemaker or attendant, or any person who provides care for you in the place where you live, may NOT act as your attorney.
[00:49] To be able to make a Continuing Power of Attorney of Property, one must be over 18 years old and:
a) understand the property you own and its approximate value;
b) is aware of obligations you owe to any dependents;
c) understand that your appointed attorney will be able to handle your financial affairs, except create your will;
d) understand the attorney must account for his/her actions;
e) understands that you may revoke the power of attorney;
f) understands that the attorney may cause your property value to grow or decline; and
g) understand that the attorney may misuse his/her authority.
[01:29] The attorney is required to act honestly and diligently for your benefit, explain to you (even when you're incapable) of what the attorney is doing and keep accounts of all financial transactions. The attorney is obligated to make expenditures that are reasonable and necessary for your care and the care of your dependents to whom you owe a legal obligation.
[01:49] Landmark Law assists in preparing your Continuing Power of Attorney for Property and with your Wills and Estates Planning. Please feel free to book a 30-minutes consultation with us today at landmarklaw.ca/book
[01:59] CLOSING MUSIC