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Power of attorney: Incapacity planning in British Columbia

There may be times when decisions pertaining to someone's estate have to be made by other than the estate holder. Someone named power of attorney could act in that capacity -- a relative or good family friend. British Columbia residents could name whomever they choose to make decisions for them. For instance, a power of attorney could cash a cheque on behalf of the principal should he or she be out of town.

Taking action against power of attorney abuse in B.C.

Someone who is chosen to oversee a person's affairs should they need help or when they can't do it themselves is usually chosen because that person is trusted. In British Columbia, there have been instances, however, when someone who has been named power of attorney has abused that trust and has done things that could be considered fraudulent. There are things that can be done if abuse is suspected.

Power of attorney in British Columbia can be a confusing role

At times, adult children are asked by their parents to undertake things for which they're unprepared. No one likes to think about the death of his or her parents. But being named power of attorney in British Columbia is a role for which many children are unprepared and one which merits much forethought. 

Power of attorney can protect a British Columbia senior

The elderly are often prime targets to take advantage of, so they need to have protection from being potential prey to unscrupulous financial abusers. British Columbia's aging citizens become more vulnerable to financial abuse the older they get. However, there are safeguards these trusting souls can put into place to prevent a financial disaster, one of which is a power of attorney.

A power of attorney might have saved comatose man's belongings

When most people in British Columbia think about estate planning, they probably focus on what will happen to their assets after they pass away. Some especially astute men and women may also recognize the value of granting power of attorney to a trusted loved one in case they lose the ability to make decisions for themselves later in life. However, having a power of attorney can pay dividends at any time and any age should something unexpected happen.

Woman alleges late brother's caregivers abused power of attorney

As some people age, they become increasingly reliant on others to look after them. In the absence of close family, some may turn to paid caregivers. There are those who abuse their positions of trust, unfortunately, and prey upon the senior citizens who put their trust in them. A story unfolding in another province may serve as a warning to anyone in British Columbia considering granting power of attorney over his or her affairs.

A power of attorney makes sense for Canadians and their parents

Planning for the future means being proactive instead of reactive. For many people, this is difficult to do. Barring an unfortunate incident, however, the fact is everyone grows old and preparing for that inevitability makes good sense. Writing a will and setting up a power of attorney are excellent examples. Unfortunately, many people in British Columbia are not ready for what's to come, even though they know they should be.

Some lesser known facts about power of attorney in B.C.

There are many legal tools available to help men and women in British Columbia transition into old age with fewer worries. Wills, power of attorney and other advance planning directives are excellent methods of preparing for future possibilities. Granting power of attorney, in particular, is a versatile way for anyone looking to secure his or her care or finances down the road.

Speaking to parents about power of attorney and money issues

One of the great benefits of modern health care is people are living longer lives, which means British Columbia parents and their children can enjoy more time together. For some, however, an extended life goes hand in hand with diminished mental capacity. Even those who do not end up enduring full-blown dementia may find they lack the acuity they once had. For that reason, it is important for children to pay attention to their aging parents and watch for signs they may be losing the ability to manage their own affairs. If they are, it may be time to discuss making arrangements such as granting a power of attorney before matters get worse.

Power of attorney should be given carefully, and then monitored

As men and women advance further into their senior years, it can become increasingly difficult for many to continue managing their own affairs. One possible solution for a senior is to grant power of attorney to a trusted friend or loved one who can then make complicated decisions on his or her behalf. Making that choice should be done with care, however, and it is okay to keep tabs on how matters progress down the road.

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