Overview
Every Albertan who is at least 18 years old should have:
- a personal directive
- an enduring power of attorney
- a will
Enduring power of attorney is an agreement between you and a person you trust that allows them to make financial decisions on your behalf, if you’re no longer capable of making these decisions.
The agreement:
- is written when you’re capable of making your own decisions
- states when the person you trust will have authority
- can start immediately and continue if you lose capacity
- can start when you lose capacity
Enduring power of attorney is defined by the Powers of Attorney Act.
If you lose your capacity and don’t have an agreement
If you lose your capacity and don’t have an enduring power of attorney agreement in place, one of your friends or family members might have to go to court to become your trustee. This takes time and money.
If you have this agreement in place, you don’t need a trustee.
Get an enduring power of attorney agreement
You should contact a lawyer to get this agreement. A lawyer can explain all your agreement options.
Your agreement can include:
- specific decisions
- specific dates
- specific limits
- multiple people