Enduring Power of Attorney
According to the Government of Alberta, an enduring power of attorney (EPOA) is a legal document that you make to give another person the authority to make financial decisions on your behalf if and when you lose capacity. Whereas a general power of attorney only allows your attorney to look after your affairs if you are away temporarily or if you need help managing your affairs.
The EPOA document:
- must be written when you are capable of making your own decisions
- states when the person will have authority
- can start at either of these times:
- immediately and continue if you lose capacity
- when you lose capacity
- An enduring power of attorney is defined by the Powers of Attorney Act.
Who should have an EPOA?
The Government of Alberta advocates for every Albertan over the age of 18 to have an enduring power of attorney.
What happens if I don't have one?
If you lose your capacity and do not have an enduring power of attorney, one of your family members or friends might have to go to court to become your trustee. This takes time and money. It may also cause grief and arguments amongst family members. If you have this legal document in place, you do not need a trustee.
How do I get an enduring power of attorney?
There are no regulated forms for creating an enduring power of attorney.
It is safest to make an enduring power of attorney with a lawyer to make sure:
It is safest to make an enduring power of attorney with a lawyer to make sure:
- you have protected all your financial interests
- your enduring power of attorney is legal
More information
| powers_of_attorney.pdf |