THE NOTARY AND YOUR RETIREMENT

As you embark on your retirement years, content to have made your contribution to society, you have earned the right to enjoy those years in complete peace in mind. Your notary can help you to work out solutions for any legal concerns you may have.

Power of attorney: a good thing to have when things are going well

If you are planning to go on a trip or if you expect to spend time in the hospital, it is comforting to know that someone can attend to your affairs and administer your property or assets while you are away. That person may be your spouse, one of your children or a good friend. How it this done ?

You have only to sign a document entitled power of attorney or mandate by which you, the constituent or mandator, appoints an attorney or mandatary to act on your behalf.

The power of attorney may make provision for entrusting your attorney with a fairly comprehensive list of powers.

If you plan to be away for an extended period of time, a general power of attorney is the best instrument for authorizing your attorney to take and action on your behalf without incurring any problems.

Your attorney may pay your rent, make your mortgage (hypothec) payments, make deposits or withdrawals at your bank or renew your insurance policies, etc.

You may wish to confer on your attorney only a special power of attorney limiting the powers given to him and authorizing him to sign only certain deeds. You may grant authorization, for instance, to sell your property during your absence, but only in accordance with the conditions laid down by you.

The power of attorney is valid only if you, the constituent, and your attorney are in full possession of your respective mental faculties.

Since April 15, 1990, it has become possible to give a Power of Attorney or mandate in advance to another person who will take care of you and administer your property if you become unable to do so yourself. Refer to the brochure "The Mandate" in this regard.

Your notary can advise you on the contents of the power of attorney and draw up this authorization, adapting it to your special needs. Note that a power of attorney is automatically cancelled in the event of death, or of mental incapacity.