Fiscal Agents Knowledge Bank

Notice: Fiscal Agents Financial Services Group are not engaged in rendering tax, accounting or legal professional services or advice. The comments in this Executive Notes are not intended, nor should they be relied upon, to replace specific professional advice. Before acting on material contained herein. Readers should seek advice that is appropriate to their personal circumstances from a professional advisor.

We gratefully acknowledge the contribution of this article from Trimark Investment Management Inc.

Experts Consulted: Trimark would like to thank the following individuals for their assistance in preparing this brochure:

� Robert D. Finlayson, partner, Smith Lyons, Barristers Solicitors

� Gilles Leclerc, partner, Desjardins Ducharme Stein Monast, Barristers & Solicitors

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Fiscal Agents
Why You Need an Estate Plan - 10 Simple steps

Step 5:
Establish Power of Attorney for Property (3)

A power of attorney for property gives one or more people the authority to manage your financial affairs if you cannot do so -the person you appoint should be someone you would literally trust with your life (it could be the executor appointed in your will). There are two types:

General -covering all aspects of your financial affairs, or

Limited - limiting the scope of powers given to your designates)

If prepared properly under relevant legislative restrictions, a power of attorney for property will remain valid if you become mentally incapacitated. All powers of attorney terminate on death, the appointment of a committee or guardian by a court order, or on the death of the person you have appointed as attorney. (4) You can revoke a power of attorney at any time, as long as you are mentally competent.

Looking for more information on living wills, Power of Attorney forms, for care and financial matters