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Preventing power of attorney problems at the bank

Individuals who choose someone to act on their behalf want to avoid potential horror stories at all costs. British Columbia residents who are choosing someone to act on a power of attorney should be mindful of what it takes to do the job. One of the issues they could come up against is whether a bank will trust that individual since it is incumbent upon banks to safeguard people's finances.

Common sense should accompany a power of attorney

Fraud has long been associated with some aspects of estate planning. British Columbia residents who are planning their estates and deciding on someone to look after their power of attorney should take the time to make a prudent decision and choose someone they trust implicitly. A power of attorney is an extremely potent document and the person chosen to act on someone else's behalf, should the person be unable to do so, needs to be someone who can manage a grantor's financial affairs responsibly.

Power of attorney: Common sense should prevail

Canadians who choose someone to act on their behalf financially when they can no longer do so need to make the choice wisely. In choosing a person to act on a power of attorney, British Columbia residents will want to make sure the person is trustworthy and has some financial common sense. Fraud is a reality in some situations, so it's important to give this power wisely.

Power of attorney: It's a matter of trust

There are things people can do legally to make sure their financial affairs continue to be in order should they no longer be able to take care of things on their own. A power of attorney is a document that gives one or more people the green light to manage money and/or property on someone else's behalf. There are two types of powers of attorney in British Columbia and the rest of the country: general or enduring.

What older residents should know about power of attorney

It's inevitable. Everyone -- if he or she is lucky -- gets old. And when thinking about the future, many British Columbia residents think about estate planning and that includes a power of attorney. Planning ahead for old age is one of the most important things a person can do and that means choosing someone to make crucial decisions when one can no longer do so oneself.

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