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Similar to a legal last will and testament, you do not need to have your power of attorney documents notarized for them to be legal. This applies to power of attorney documents in all provinces in Canada. However, there are a couple instances where you may want to include a notary.
As well, an attorney cannot make a gift to themselves without the authorization of the court. The court may also authorize an attorney to make a gift that is not otherwise authorized under the act if the court is satisfied that it would be appropriate for the attorney to make the gift.
In general, the principal's money or property cannot be transferred to themselves by either type of power of attorney. Note that this restriction applies regardless of whether the principal is alive or dead at the time they sign their power of attorney document.
Power of Attorney for Property (POA) is a legal document that gives a person the right to act on someone else's behalf. This article is intended to share with your clients and their families with the recommendation that they seek professional advice. Can a bank refuse a Power of Attorney? Yes, they can!
However, because a PoA acts on a daily basis, naming an attorney located in the jurisdiction where assets are located may be prudent. Validity. Most provinces recognize a foreign PoA. Therefore, in Canada most American PoAs are recognized.