5 Tips to Protect Yourself with Powers of Attorney

You need to sign power of attorney documents to be protected. Here are a few things to remember about powers of attorney (POAs):

5 Tips to Remember

Don’t name someone whom you do not trust. Attorneys must agree to accept the responsibility of being an attorney. This consent does not have to be in writing.
Persons you name as your attorney may not accept the job. Always name a backup attorney in case your first-choice declines or is not available.
The qualities you need in your attorney are similar to the qualities you need in your executor. These are honesty, trustworthiness and the ability to keep records.
POAs are legal documents that require two qualified witnesses. This also means these documents can be interpreted by a judge. The wording in the document is important. The validity of power of attorney documents can be challenged in court.
POAs for property are like loaded guns. Once signed, they can be used immediately unless they contain restrictions. Discuss what restrictions, if any, you need with your lawyer.

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As a Certified Specialist, estate law is all I do.

Ed Olkovich

Posted In: Estates, Powers of Attorney On: August 22nd, 2024

“I want to thank Ed and his firm for getting me through a very difficult time. He was recommended to me by another lawyer and I am grateful for that recommendation. Ed kept me grounded, listened to me, counseled me and supported me. I do so appreciate that. And he is worth every penny. Thank you!” - Claudia R, Toronto

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I have used Edward Olkovich for my own Will and I was the executor of my Brother-in-law’s will. My brother-in-law had a terminal illness and Edward had us devise his Will to minimize taxes and problems. Ed is located locally @ Jane and Bloor. He was very knowledgeable, friendly and thorough and has written many books on the subject. - Belinda M, Toronto

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