Picture this. You’re having coffee with your favourite aunt when she casually mentions she’d like to appoint you as her power of attorney.
You’re caught off guard, but you love your aunt. So you say “of course” and the topic of conversation quickly returns to your aunt’s upcoming European cruise.
It’s not an uncommon scenario, said Laura Tamblyn Watts, CEO of national seniors’ advocacy organization CanAge.
People often draft a financial power of attorney—a document that gives someone else the authority to manage their money and property on their behalf—as they age and begin to make plans for the possibility of failing health and changing life circumstances….