Powers of Attorney for Property in Ontario

Ever wonder what the difference is between "making a will" and doing "estate planning"? The major difference is that estate planning is intended to create a situation in which everything works together - your will, your beneficiary designations, your joint property, your insurance, etc. Making a will is simply creating one document without necessarily knowing how it fits into the overall puzzle.

One major component of a good estate plan is a Power of Attorney that appoints someone to make decisions about property and finances during your lifetime if you can no longer do that for yourself.

I've come across a "Client Advisory" item written by O'Sullivan Estate Lawyers, a firm in Ontario. It contains comprehensive, understandable information about Powers of Attorney and how/why they are used. I highly recommend that Ontario readers click here to check it out.