Four Key Duties of a Fiduciary - Revision history

Drew Jackson: /* Take steps to have the power of attorney accepted */

2018-03-23T13:46:38Z

Take steps to have the power of attorney accepted

← Older revision		Revision as of 13:46, 23 March 2018
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	{{PLSTipsbox		{{PLSTipsbox
	\| text = Don’t expect others to know what an attorney is or does. They may not understand that you have been named as an attorney. They may think that you have more authority or less authority than you really have. You may need to educate them. You could show them this guide. You can also refer to the factsheet “[http://www.nidus.ca/PDFs/Nidus_Info_Role_Attorney.pdf Roles and Responsibilities of an Attorney]“ from Nidus Personal Planning Resource Centre.		\| text = Don’t expect others to know what an attorney is or does. They may not understand that you have been named as an attorney. They may think that you have more authority or less authority than you really have. You may need to educate them. You could show them this guide. You can also refer to the factsheet [http://www.nidus.ca/PDFs/Nidus_Info_Role_Attorney.pdf "Roles and Responsibilities of an Attorney"] from Nidus Personal Planning Resource Centre.
	}}		}}

Drew Jackson: /* Foster Martina’s independence and involvement in decisions */

2018-03-23T13:45:39Z

Foster Martina’s independence and involvement in decisions

← Older revision		Revision as of 13:45, 23 March 2018
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	Being as independent as possible and making your own decisions is an important aspect of mental health. Try to help Martina recognize her concerns, goals and values. Explore the range of choices with her, and have her make the decision herself if at all possible.		Being as independent as possible and making your own decisions is an important aspect of mental health. Try to help Martina recognize her concerns, goals and values. Explore the range of choices with her, and have her make the decision herself if at all possible.

	A “[http://seniorsfirstbc.ca/for-professionals/supported-decision-making/gradual-counselling/ gradual counselling]” approach might help Martina. In this approach, you clarify and reflect her thoughts and feelings. You help her to recognize the pros and cons of various options, and how they relate to her goals and values.		A [http://seniorsfirstbc.ca/for-professionals/supported-decision-making/gradual-counselling/ "gradual counselling"] approach might help Martina. In this approach, you clarify and reflect her thoughts and feelings. You help her to recognize the pros and cons of various options, and how they relate to her goals and values.

	===Avoid changing Martina's plans for her property when she dies===		===Avoid changing Martina's plans for her property when she dies===

Drew Jackson: /* Take steps to have the power of attorney accepted */

2018-03-23T13:43:18Z

Take steps to have the power of attorney accepted

← Older revision		Revision as of 13:43, 23 March 2018
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	{{PLSTipsbox		{{PLSTipsbox
	\| text = Don’t expect others to know what an attorney is or does. They may not understand that you have been named as an attorney. They may think that you have more authority or less authority than you really have. You may need to educate them. You could show them this guide. You can also refer to the factsheet “[http://www.nidus.ca/PDFs/Nidus_Info_Role_Attorney.pdf Roles and Responsibilities of an Attorney]“ from Nidus.		\| text = Don’t expect others to know what an attorney is or does. They may not understand that you have been named as an attorney. They may think that you have more authority or less authority than you really have. You may need to educate them. You could show them this guide. You can also refer to the factsheet “[http://www.nidus.ca/PDFs/Nidus_Info_Role_Attorney.pdf Roles and Responsibilities of an Attorney]“ from Nidus Personal Planning Resource Centre.
	}}		}}

Drew Jackson: /* Take steps to have the power of attorney accepted */

2018-03-23T13:42:10Z

Take steps to have the power of attorney accepted

← Older revision		Revision as of 13:42, 23 March 2018
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	As soon as you need to act as Martina’s attorney, contact any banks, businesses or people that she deals with and give them copies of the power of attorney. Never give away the original document. You can get certified copies of the original. (A lawyer or notary public can certify a copy as a true copy of the original document.)		As soon as you need to act as Martina’s attorney, contact any banks, businesses or people that she deals with and give them copies of the power of attorney. Never give away the original document. You can get certified copies of the original. (A lawyer or notary public can certify a copy as a true copy of the original document.)

	Sometimes banks or other businesses won’t do what you, acting as Martina’s attorney, want them to do. A bank ~~may~~ refuse to accept the power of attorney, or ~~may~~ want Martina to sign its own form of power of attorney. This is particularly a problem if Martina has lost the ability to act for herself. You should get advice, as the bank’s form may undo careful planning done for Martina’s benefit.		Sometimes banks or other businesses won’t do what you, acting as Martina’s attorney, want them to do. A bank might refuse to accept the power of attorney, or might want Martina to sign its own form of power of attorney. This is particularly a problem if Martina has lost the ability to act for herself. You should get advice, as the bank’s form may undo careful planning done for Martina’s benefit.

	If someone will not accept your authority to act on behalf of Martina, talk to a supervisor. If they still won’t accept it, talk with a lawyer. Under the law, in Martina’s enduring power of attorney, she can authorize you to do anything she may lawfully do by an agent in relation to her financial and legal affairs.		If someone will not accept your authority to act on behalf of Martina, talk to a supervisor. If they still won’t accept it, talk with a lawyer. Under the law, in Martina’s enduring power of attorney, she can authorize you to do anything she may lawfully do by an agent in relation to her financial and legal affairs.

Drew Jackson: /* Protect Martina's property */

2018-03-23T02:59:54Z

Protect Martina's property

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	Keep Martina’s property safe. You may need to put valuable items in safety deposit boxes or change locks on property.		Keep Martina’s property safe. You may need to put valuable items in safety deposit boxes or change locks on property.

	Make sure her home and any other property is heated (in cold weather) and insured.		Make sure her home and any other property is heated (in cold weather) and insured. Check any insurance policies. Cancel any policy Martina doesn't need.

	{{PLSTipsbox		{{PLSTipsbox
	\| text = ~~Check~~ any insurance policies~~. Cancel any policy Martina doesn~~'~~t need~~. If ~~Martina~~ will be out of ~~the~~ home for any extended period of time, consider getting vacancy coverage. Without it, insurance coverage may be denied if a home is vacant for a certain period of time.		\| text = As the attorney, you should check any insurance policies for the adult's property. If the adult will be out of their home for any extended period of time, consider getting vacancy coverage. Without it, insurance coverage may be denied if a home is vacant for a certain period of time.
	}}		}}

Drew Jackson: /* Duty 2. Manage Martina's money and property carefully */

2018-03-23T02:58:23Z

Duty 2. Manage Martina's money and property carefully

← Older revision		Revision as of 02:58, 23 March 2018
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	Make sure her home and any other property is heated (in cold weather) and insured.		Make sure her home and any other property is heated (in cold weather) and insured.

	Check any insurance policies. Cancel any policy Martina doesn't need. If Martina will be out of the home for any extended period of time, consider getting vacancy coverage. Without it, insurance coverage may be denied if a home is vacant for a certain period of time.		{{PLSTipsbox
			\| text = Check any insurance policies. Cancel any policy Martina doesn't need. If Martina will be out of the home for any extended period of time, consider getting vacancy coverage. Without it, insurance coverage may be denied if a home is vacant for a certain period of time.
			}}

	===Take steps to have the power of attorney accepted===		===Take steps to have the power of attorney accepted===

Drew Jackson: /* Don't pay yourself unless the power of attorney allows it */

2018-03-23T02:56:01Z

Don't pay yourself unless the power of attorney allows it

← Older revision		Revision as of 02:56, 23 March 2018
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	{{PLSTipsbox		{{PLSTipsbox
	\| text = Be mindful of how reimbursing yourself for driving expenses might impact your car insurance. If an attorney uses their car for duties on behalf of the adult, and they reimburse themselves for mileage, this may put the attorney in a different [http://www.icbc.com/autoplan/costs/Pages/Whats-a-rate-class.aspx "rate class"] for insurance purposes.		\| text = Be mindful of how reimbursing yourself for driving expenses might impact your car insurance. If an attorney uses their car for duties on behalf of the adult, and they reimburse themselves for mileage, this may put the attorney in a different [http://www.icbc.com/autoplan/costs/Pages/Whats-a-rate-class.aspx "rate class"] for insurance purposes. Check with your insurance broker or ICBC.
	}}		}}

Drew Jackson: /* Avoid conflicts of interest */

2018-03-22T01:26:30Z

Avoid conflicts of interest

← Older revision		Revision as of 01:26, 22 March 2018
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	{{PLSTipsbox		{{PLSTipsbox
	\| text = Because you are now a fiduciary, you should avoid any conflicts of interest. Sometimes people have good intentions, but do things they shouldn’t. As a fiduciary, you have a duty to avoid making decisions about Martina’s property that may benefit someone else at Martina’s expense.		\| text = Because you are now a fiduciary, you should avoid any conflicts of interest. Sometimes people have good intentions, but do things they shouldn’t. As a fiduciary, you have a duty to avoid making decisions about Martina’s property that may benefit you or someone else at Martina’s expense.
	}}		}}

Drew Jackson: /* Don't pay yourself unless the power of attorney allows it */

2018-03-22T01:26:04Z

Don't pay yourself unless the power of attorney allows it

← Older revision		Revision as of 01:26, 22 March 2018
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	{{PLSTipsbox		{{PLSTipsbox
	\| text = Be mindful of how reimbursing yourself for driving expenses might impact your car insurance. If an attorney uses their car for duties on behalf of the adult, and they reimburse themselves for mileage, this may put ~~them~~ in a different [http://www.icbc.com/autoplan/costs/Pages/Whats-a-rate-class.aspx "rate class"] for insurance purposes.		\| text = Be mindful of how reimbursing yourself for driving expenses might impact your car insurance. If an attorney uses their car for duties on behalf of the adult, and they reimburse themselves for mileage, this may put the attorney in a different [http://www.icbc.com/autoplan/costs/Pages/Whats-a-rate-class.aspx "rate class"] for insurance purposes.
	}}		}}

Drew Jackson: /* Don't pay yourself unless the power of attorney allows it */

2018-03-22T01:20:18Z

Don't pay yourself unless the power of attorney allows it

← Older revision		Revision as of 01:20, 22 March 2018
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	Even if you are not paid for your time, you are entitled to be paid back for any reasonable out-of-pocket expenses. For example, let’s say you use your own funds to buy a journal or chequebook to be used for Martina’s benefit.		Even if you are not paid for your time, you are entitled to be paid back for any reasonable out-of-pocket expenses. For example, let’s say you use your own funds to buy a journal or chequebook to be used for Martina’s benefit.

			{{PLSTipsbox
			\| text = Be mindful of how reimbursing yourself for driving expenses might impact your car insurance. If an attorney uses their car for duties on behalf of the adult, and they reimburse themselves for mileage, this may put them in a different [http://www.icbc.com/autoplan/costs/Pages/Whats-a-rate-class.aspx "rate class"] for insurance purposes.
			}}

	==Duty 2. Manage Martina's money and property carefully==		==Duty 2. Manage Martina's money and property carefully==