What is a Power of Attorney?

A Power of Attorney (POA) is a potent legal instrument that empowers an individual, referred to as the Agent, to make decisions and act on behalf of another, known as the Principal.  

It is an essential part of legal and estate planning that ensures that a person’s affairs are managed according to their wishes should that person be unable to do so themselves because of illness, absence, or incapacity.

 

What does a Power of Attorney include?

A Power of Attorney is a personalized document tailored to each individual's needs, according to their needs, desires and preferences.

In a Power of attorney, the appointer, called the "Principal" can choose one or more individual as their "Agent" to carry out the appointer's wishes. 

The appointer determines which matters will be within the authority of their agent: be it medical, property, financial etc.

The appointer may provide in the power of attorney pre-instructions that will guide their agent on how to make decisions, and what actions to take, in accordance with the appointer's wishes, values, and principles.

An appointer who wishes to involve a supervisory authority can include this in their Power of Attorney.  In such a circumstance the agent must notify the supervisory authority before the agent takes any action.

 

There is a tendency to view Power of Attorney as a permanent, or irrevocable, transfer of decision making power; or something which is only used for the elderly, but this is not the case. Life is unpredictable, and one cannot know what each day will bring.  A person who has managed their life with complete independence may find themselves, suddenly, unexpectedly, unable to manage their affairs.  Things like military reserve duty, injury, illness or cognitive impairment resulting from trauma or accident can necessitate a Power of Attorney.  Obviously, the Power of Attorney needs to be completed before such things might occur.  

 

The Power of Attorney can be for temporary, or revocable, so as to ensure that the desires of the person granting the authority can  retake control of their life.

 

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