POWERS OF ATTORNEY

Powers of attorney are another vital part of good financial planning. Powers of attorney cover those situations where you cannot, either permanently or temporarily, make decisions with respect to your financial affairs or health. In Ontario, there are two kinds of power of attorney: one for finances and one for your personal care or health. Once you become incapacitated, you cannot sign a power of attorney, thus it is very important to have these be in place before such an event. For a more detailed explanation, please click on this link: Powers of Attorney – Uses and Planning Points.