What does an attorney for property have to do?
Question & AnswerWhat does an attorney for property have to do?
When someone wants to give another person the power to make decisions about their money and property, they can use a legal document called a .
The person who creates the Power of Attorney is called the grantor. The person they choose is called their attorney for property.
Being an attorney is an important job. It comes with a lot of responsibility and it can last a long time.
If you've been appointed or named as an attorney, it's a good idea to talk to a lawyer. A lawyer can explain what tasks you need to do and may help you do some of them.
What you can do
A Power of Attorney for Property takes effect as soon as it's signed and witnessed, unless it says something else. You can do almost anything with the person's money and property that they could do themselves, unless the Power of Attorney puts limits on this.
You'll be able to do things for the person like:
- doing their banking
- paying their bills
- signing their cheques
- filing their income tax returns
- buying, selling, or leasing their real estate
- buying consumer goods and services that they need, such as furniture, appliances, clothing, and home and auto repairs
There can be a limit on how long the Power of Attorney lasts. For example, it might only last for the time the person is sick or away on vacation.
There can also be limits on what you can do. For example, the Power of Attorney might only let you sign documents that are needed to sell the person's home.
The person may want you to act only if they become of managing their money and property. If this is the case, there must be a statement that clearly says this in the Power of Attorney for Property.
A Power of Attorney that lets you go on acting for the person when they're of managing their money and property is called a Continuing Power of Attorney for Property.
What you cannot do
There are some things you cannot do. For example, you cannot:
- make or change the person's will
- make or change who's a beneficiary on the person's insurance policy or registered plan
- make a new Power of Attorney for the person
And a Power of Attorney for Property does not let you make decisions about the person's personal care. If they want you to make those kinds of decisions, they can name you as their attorney for personal care in a Power of Attorney for Personal Care.