What Is The Difference Between A Power Of Attorney And A Representation Agreement
A representation agreement allows you to appoint someone other than your legal representative to make financial, legal and personal decisions if you are unable to make those decisions yourself. It must be an unpaid appointment, so you cannot appoint someone who employs you to provide you with personal or health care, or who is employed by an institution that provides you with personal or medical care. The only exception is if that person is your child, parent or spouse. To terminate a replacement agreement, you must notify the representative and deputy representative in writing and the supervision in accordance with Section 27. With a permanent power of attorney, you decide who will handle your legal and financial affairs if you become incapacitated. In the absence of a permanent power of attorney, if you were unable, someone can ask the BC Supreme Court to be appointed by your estate commission. An estate committee has the power to take care of your legal and financial affairs. As a general rule, a spouse or other family member applies. For more information on this process, see our information on the Committee`s work. A warrant for real estate must be filed with the Landesrechtsamt. Under Part 6 of the Land Title Act, it applies only three years from the date of signing, unless there is something else or it is a permanent power of attorney. The event that triggers the authority of the lawyer does not necessarily have to be a loss of capacity, but it is the most common event used for a leaping power of attorney.
Representation agreements signed prior to the update of the law (September 1, 2011) remain generally valid. All representation agreements signed on September 1, 2011 must follow the updated law. It is very important that you think carefully about who you want to elect to be your representative. Think about what your representative should do for you and who is best placed to do these things. Choose someone you trust who understands the values and beliefs that guide your decision-making. If the person will deal with financial matters for you, choose someone who is good at managing the money. Her son recently moved to Australia, so Sally wishes her daughter (who still lives in BC) is also her lawyer. If your representation agreement deals with the routine management of your financial affairs, you need additional protection in accordance with Section 12: you must designate a monitor. You do not need a monitor if your representative is your spouse, public custodian and agent, trust company or credit union. You also don`t need a monitor if you appoint two or more representatives to handle your financial affairs and ask them to act unanimously. A power of attorney is a legal document that you can use to appoint someone to make financial and legal decisions for you. The person you appoint is a lawyer.
As noted above, it is considered that you are in a position to make the decision to enter into a replacement contract, unless there has been any further evidence. This means that you must be able to understand and understand the context of the agreement and the consequences that result from it. The law gives you the benefit of the doubt when it comes to deciding whether you are legally in a position to enter into a representation agreement. By law, you are able to enter into a representation agreement – and they are considered capable of managing your own affairs – until proven otherwise.
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