You Have Been Appointed as an Attorney: Difference between revisions
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You Have Been Appointed as an Attorney (view source)
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If you want to learn about '''making''' a power of attorney, this guide is not designed for you. Talk with a lawyer or notary public. These resources are also helpful: | If you want to learn about '''making''' a power of attorney, this guide is not designed for you. Talk with a lawyer or notary public. These resources are also helpful: | ||
* The information on “[http://www.peopleslawschool.ca/everyday-legal-problems/wills-estates/personal-planning-powers-attorney Power of Attorney]” from People’s Law School. | *The information on “[http://www.peopleslawschool.ca/everyday-legal-problems/wills-estates/personal-planning-powers-attorney Power of Attorney]” from People’s Law School. | ||
* The “[http://www.nidus.ca/PDFs/Nidus_Guide_EPA.pdf Guide to Making & Registering Your Enduring Power of Attorney (EPA])” from Nidus. | *The “[http://www.nidus.ca/PDFs/Nidus_Guide_EPA.pdf Guide to Making & Registering Your Enduring Power of Attorney (EPA])” from Nidus. | ||
* The website [http://mylawbc.com/paths/wills/ MyLawBC] from Legal Services Society, the agency that provides legal aid in BC. The site has a tool to help you decide what documents to create to plan for your future. | *The website [http://mylawbc.com/paths/wills/ MyLawBC] from Legal Services Society, the agency that provides legal aid in BC. The site has a tool to help you decide what documents to create to plan for your future. | ||
==A scenario== | ==A scenario== | ||
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When you act as an attorney for Martina, you have four key duties you must keep in mind: | When you act as an attorney for Martina, you have four key duties you must keep in mind: | ||
# Act honestly, in good faith and in Martina’s best interest. | #Act honestly, in good faith and in Martina’s best interest. | ||
# Manage Martina’s money and property carefully. | #Manage Martina’s money and property carefully. | ||
# Act within the authority you are given and within the law. | #Act within the authority you are given and within the law. | ||
# Keep good records. | #Keep good records. | ||
These duties are explained in the section “[[Four Key Duties of a Fiduciary]]”. They apply whether you are managing a lot of money or a little. They apply whether you are a family member or not. | These duties are explained in the section “[[Four Key Duties of a Fiduciary]]”. They apply whether you are managing a lot of money or a little. They apply whether you are a family member or not. | ||
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Consider how difficult the task is likely to be. Take into account things such as: | Consider how difficult the task is likely to be. Take into account things such as: | ||
* the value and nature of the adult’s property | *the value and nature of the adult’s property | ||
* how organized their affairs and papers are | *how organized their affairs and papers are | ||
* views of family members and concerned friends, and the potential for disagreement among them | *views of family members and concerned friends, and the potential for disagreement among them | ||
* if there are multiple attorneys, the potential for disagreement with them | *if there are multiple attorneys, the potential for disagreement with them | ||
Consider whether the power of attorney provides for the attorney to be paid for their time. [http://canlii.ca/t/849l The law] says you can be paid for acting as an attorney under an enduring power of attorney '''only''' if the document says you can and sets out the amount or rate. | Consider whether the power of attorney provides for the attorney to be paid for their time. [http://canlii.ca/t/849l The law] says you can be paid for acting as an attorney under an enduring power of attorney '''only''' if the document says you can and sets out the amount or rate. | ||
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|width = 50% | |width = 50% | ||
| text = In your role as attorney, you may deal with other types of fiduciaries. These may include: | | text = In your role as attorney, you may deal with other types of fiduciaries. These may include: | ||
* '''Trustee under a trust:''' A person who holds property for the benefit of another person, the beneficiary. | *'''Trustee under a trust:''' A person who holds property for the benefit of another person, the beneficiary. | ||
* '''Representative under a “section 7 representation agreement”:''' A person authorized to make decisions for another person—including on “routine” financial affairs and most legal matters—when the person can no longer manage on their own. | *'''Representative under a “section 7 representation agreement”:''' A person authorized to make decisions for another person—including on “routine” financial affairs and most legal matters—when the person can no longer manage on their own. | ||
* '''Pension trustee or, for veterans, pension administrator:''' A person appointed by a government agency to manage government money that is paid to someone. | *'''Pension trustee or, for veterans, pension administrator:''' A person appointed by a government agency to manage government money that is paid to someone. | ||
* '''Guardian or committee:''' A person appointed by a court to manage money and property for someone who needs help. | *'''Guardian or committee:''' A person appointed by a court to manage money and property for someone who needs help. | ||
}} | }} | ||
{{Managing Someone Else's Money Navbox}} | {{Managing Someone Else's Money Navbox}} | ||