A Power of Attorney (Mandate in Quebec) gives someone you trust the power to make decisions for you, if you were to become mentally or physically incapacitated.
This story was originally published by RBC Wealth Management.
Did you know?
- Incapacity is not age related, it can happen at any time.
- There are two basic types of power of attorney: one for personal care and one for property.
- Naming a trust company as your attorney for property can ease the burden on your caregivers.
The Wealthy Barber Has a Power of Attorney. Do You? Check out this video to see why David Chilton, author of best-selling personal finance guides The Wealthy Barber and The Wealthy Barber Returns, and former dragon on CBC's Dragons' Den, thinks it is important to get a proper power of attorney in place. This video is produced in collaboration between RBC Wealth Management Royal Trust and David Chilton.
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