Enduring Power of Attorney New Brunswick Act: All You Need to Know

An enduring power of attorney is a legal document that allows you to appoint someone to act on your behalf in financial and legal matters, even if you become mentally incapable of making your own decisions. This can be a useful way to plan for the future and protect your interests. However, there are also some risks and responsibilities involved in creating and using an enduring power of attorney in New Brunswick. In this article, we will explain what you need to know about the Enduring Powers of Attorney Act, which is the law that governs this type of document in New Brunswick. By the end of this article, you will have a better understanding of the Enduring Powers of Attorney Act and how it can help you plan for your future. You will also learn how to avoid some common pitfalls and problems that may arise when dealing with an enduring power of attorney.

Enduring power of attorney New Brunswick

An enduring power of attorney (EPA) is a legal document that allows you to appoint someone to act on your behalf in legal and financial matters, even if you lose your mental capacity. A regular power of attorney (PA) is a similar document, but it becomes invalid if you lose your mental capacity. Mental capacity means the ability to make decisions for yourself at the time they need to be made

An EPA can only be made and signed before October 1, 2007, when the law changed to introduce lasting powers of attorney (LPA). An LPA is a newer type of legal document that can also cover personal care and welfare decisions, not just property and money. An LPA must be registered with the Office of the Public Guardian before it can be used

If you have an EPA that was made before October 1, 2007, it is still valid and can be used without registration as long as you have mental capacity. However, you must register it with the Office of the Public Guardian if you start to lose or have lost your mental capacity

The person you appoint as your attorney in an EPA or a PA has the power to manage your finances and property, such as paying your bills, managing your bank accounts, selling your property, and making usual gifts. However, they do not have the power to make substantial or unusual gifts or make decisions about your personal care and welfare

You can have more than one attorney in an EPA or a PA, and you can specify how they should make decisions: jointly (together), severally (separately), or jointly and severally (together or separately). You can also give them specific instructions or guidance in the document

You can cancel an EPA or a PA at any time, as long as you have mental capacity. The document will also end if you die, or if your attorney dies, becomes bankrupt, or loses their mental capacity (unless you have appointed a replacement attorney)

Benefits and drawbacks of having an enduring power of attorney

An enduring power of attorney New Brunswick(EPA) is a legal document that allows you to appoint someone to act on your behalf in managing your financial and legal affairs, even if you lose the mental capacity to do so yourself. Having a power of attorney in New Brunswick can have some benefits and drawbacks, depending on your situation and preferences. Here are some of the pros and cons of having an EPA:

Pros:

• You can choose who you trust to manage your affairs, and how much authority they have. You can also specify when the power of attorney in New Brunswick comes into effect, such as immediately, or only when you become incapacitated.
• You can avoid the hassle and expense of having a court or tribunal appoint a guardian or administrator for you, which may not be someone you know or want.
• You can ensure that your wishes and interests are respected and protected and that your affairs are handled in a timely and efficient manner.

Cons:

• You may be vulnerable to abuse or fraud by your attorney, who may act against your best interests or misuse your assets. You should only appoint someone you trust and who is willing and able to act as your attorney.
• You may face difficulties in having your power of attorney in New Brunswick recognized or accepted by third parties, such as banks or other institutions. They may require additional evidence or verification of your attorney’s authority or your incapacity.
• You may lose some control and autonomy over your own affairs, especially if you give your attorney broad and general powers. You may not be able to revoke or change your EPA if you become incapacitated.

If you are considering making a power of attorney in New Brunswick, you should seek legal advice and guidance from a qualified professional. 

Seek legal guidance

An enduring power of attorney is a legal document that allows someone to make decisions on your behalf if you become mentally incapacitated in the future. Examples of decisions that can be made by an agent with a power of attorney include registering a new vehicle, signing certain closing documents, or handling finances while you’re out of the country¹.

Some common scenarios and examples of using an enduring power of attorney are:

• You are planning to travel overseas for a long period of time and want to appoint someone to manage your property and financial affairs while you are away. You can use an enduring power of attorney to give your chosen person the authority to pay your bills, sell or rent your property, or invest your money on your behalf.
• You are diagnosed with a progressive illness that may affect your mental capacity in the future, such as Alzheimer’s disease or dementia. You can use an enduring power of attorney to nominate someone you trust to make decisions for you when you are no longer able to do so yourself. This can include decisions about your health care, personal care, or accommodation.
• You are involved in a serious accident that leaves you unconscious or in a coma. You can use an enduring power of attorney to authorize someone to act on your behalf in case of an emergency. This can include decisions about your medical treatment, consent to surgery, or access to your bank accounts.

An enduring power of attorney can be tailored to suit your needs and preferences. You can specify the scope and duration of the power, the conditions for its activation, and any limitations or restrictions you want to impose. You can also revoke or change an enduring power of attorney at any time, as long as you still have mental capacity. If you want to create an enduring power of attorney, you should consult a lawyer who can advise you on the legal requirements and implications of your decision. You can also use a template or a sample document to guide you, such as the ones provided by Gov, Lawpath, or LegalZoom. However, you should always check the validity and suitability of the document for your situation before signing it.