INSTRUCTIONS, CONDITIONS, AND RESTRICTIONS IN A P.O.A.
I generally type in "NONE" in the Instructions, Conditions, and Restrictions paragraph in almost every Continuing Power of Attorney for Property that I draft. You don't want a bank lawyer to demand proof from your Attorney(s) that you suffer from a particular medical condition. You don't want an investment company lawyer or insurance company lawyer blocking a transaction because they are unsure of whether the instruction, condition, or restriction has been met.
If you choose to include instructions, conditions, or restrictions, carefully consider these issues:
The Government forms, which I don't recommend, suggest that you can use these paragraphs to limit your attorney to transactions concerning specific assets, such as your bank accounts, or prohibit him or her from dealing with a particular piece of property. They also suggest that you can make the POA effective only on a particular date.
If I am advising you with regards to estate planning, I will suggest that you avoid instructions, conditions, and restrictions in a Continuing Power of Attorney for Property. You are much better off choosing your Attorney(s) wisely, maintaining strict physical control over one original POA document, and trusting your Attorney(s).
Call a Lawyer Now to Book an Appointment 905-273-3322
If you choose to include instructions, conditions, or restrictions, carefully consider these issues:
- Do you want the power of attorney to be subject to instructions? Specify exactly how you want the Attorney to carry out their tasks.
- Do you want the power of attorney to be subject to conditions? Specify, if you wish, that it be effective only if you are out of the country or only if you are in hospital and remain in hospital.
- Do you want the power of attorney to be subject to restrictions? Specify if you wish that it is only usable for real estate in a particular place.
The Government forms, which I don't recommend, suggest that you can use these paragraphs to limit your attorney to transactions concerning specific assets, such as your bank accounts, or prohibit him or her from dealing with a particular piece of property. They also suggest that you can make the POA effective only on a particular date.
If I am advising you with regards to estate planning, I will suggest that you avoid instructions, conditions, and restrictions in a Continuing Power of Attorney for Property. You are much better off choosing your Attorney(s) wisely, maintaining strict physical control over one original POA document, and trusting your Attorney(s).
Call a Lawyer Now to Book an Appointment 905-273-3322