A General Power of Attorney will extend powers to all aspects of your affairs. A Specific Power of Attorney will deal with only special duties such as allowing another individual to do your banking or investing for you, or to buy or sell property on your behalf.

Who should have a power of attorney?

• Any person over 18 years of age who tends to his or her own affairs without a guardian should have a Power of Attorney. Without one, bills and loan payments could go unpaid, and RRSPs and investments may not be properly reviewed.
• If a person becomes mentally incompetent, a General Power of Attorney will not suffice. In this case, the disabled person would require an Enduring Power of Attorney. If there are children going to college or university, their education could suffer if there is no directive to pay for tuition.
• When a person dies, their PA ceases to have authority. It is therefore important that there is a continuum of authority from the PA to the will.
• Visit your lawyer, have a PA prepared, and plan to review and update it. You can sign several different PAs over a lifetime, and they can be terminated or simply be authorized for only certain times. Without a PA, either the courts or the Public Trustee will make arrangements on your behalf.