Do your homework when choosing power of attorney.
The OPP say they’ve had several occurrences where people have lost money or valuables and in some cases a substantial amount of money.
Talking about power of attorney and appointing one can be a difficult and sometimes awkward but important conversation.
When selecting a POA
- Pick someone who is trustworthy, honest and will meet your needs when you cannot
- Pick more than one person
- Don’t pick a married couple
- Continue to monitor your financial assets including properties and bank accounts
- If you notice something is awry contact your lawyer, police or family members right away
- DON’T let it get to the point where you are in a financial situation that is hard to get out of
- You can revoke POA anytime as long as you take the proper procedures
When deciding a POA it is advisable to seek advice from a lawyer.
Further information can be found here