In Alberta, an enduring power of attorney is a legal document that allows an individual (the “donor”) to appoint another person (the “attorney”) to make financial decisions on their behalf.
This document is ensured that your financial affairs can be managed by someone you trust, should you become unable to make those decisions yourself.
Key Features of an Enduring Power of Attorney
- Creation: It must be created when the donor is capable of making their own decisions, ensuring that the appointed attorney’s authority is clearly defined.
- Activation: The document specifies when the attorney’s authority begins, which can be immediately upon signing or only if the donor loses the capacity to make decisions.
- Legal Framework: Governed by the Powers of Attorney Act, the enduring power of attorney ensures that, in the absence of the donor’s capacity, there is no need for court-appointed trusteeship, saving time and resources.
Implementing an Enduring Power of Attorney
- No Standard Form: While there are no regulated forms for creating an enduring power of attorney in Alberta, it’s recommended to work with a lawyer to ensure all financial interests are protected and the document is legally sound.
- Effectiveness: The conditions under which the power of attorney becomes effective vary. It may activate immediately, on a specific date, or upon the occurrence of a specific event, such as the donor losing decision-making capacity.
Ending an Enduring Power of Attorney
- Duration: The enduring power of attorney remains in effect until the donor’s death, revocation (if the donor is capable), court cancellation, the granting of a trusteeship order, or if the attorney dies or loses capacity without an alternate in place.
- Legal Recourse: The Power of Attorney Act allows concerned parties to request the attorney to provide relevant financial records to the court for review, ensuring transparency and accountability.
FAQs on Power of Attorney in Alberta
What is the purpose of an enduring power of attorney? It allows an individual to appoint someone to manage their financial affairs if they become unable to do so themselves.
When does an enduring power of attorney become effective? It can become effective immediately upon signing, on a specified date, or upon the occurrence of a specific event, like the donor losing capacity.
Can an enduring power of attorney be revoked? Yes, as long as the donor has the capacity to do so. It can also end upon the donor’s death or through court intervention.
In Summary:
- An enduring power of attorney in Alberta is a legal document that enables an individual to appoint someone else to manage their financial affairs, should they become unable to do so themselves.
- This document can specify conditions under which the appointed attorney’s authority begins, such as immediately upon signing, on a specific date, or upon the donor losing decision-making capacity.
- There’s no standardized form for creating an enduring power of attorney in Alberta, but it’s governed by the Powers of Attorney Act, emphasizing the importance of legal guidance in its creation.
- The enduring power of attorney remains effective until the donor’s death, it’s revoked by a capable donor, the attorney dies or loses capacity without a successor, or it’s cancelled by the court.
- It’s designed to ensure that financial decisions can be made without the need for court-appointed trusteeship, providing peace of mind and continuity in financial management for the donor.
Sources and Further Reading
- Alberta.ca: Provides an overview of enduring power of attorney, including how to create one and its legal implications. Enduring Power of Attorney
- Law Central Alberta: Offers information on planning for the future with powers of attorney. Powers of Attorney
- Office of the Public Guardian and Trustee: Discusses understanding enduring powers of attorney and related legal matters. Understanding Enduring Powers of Attorney
