In accordance with Section 29, a representation agreement ends in some cases, even if you or the agent dies, if the agent becomes incapacitated or if you are declared incapacitated by a court bc and the court does not allow the representation agreement to continue. With a replacement agreement, you have a say in people who make personal and health decisions for you if you become incapable. You may be able to reduce the burden on your family and friends. And you can avoid the government being involved in your personal and medical choices. A general power of attorney acts on behalf of the principal in all cases, as permitted by the state. The agent may be allowed to deal with matters such as the processing of bank accounts, the signing of cheques, the sale of real estate and assets such as shares, tax collection, etc. Are you preparing a power of attorney or representation agreement during coronavirus? There is currently a departmental regulation that temporarily allows remote signature and certified documents. For more information on remote witness requirements, see our information on developing planning documents during coronavirus. To terminate a replacement agreement, you must notify the representative and deputy representative in writing and the supervision in accordance with Section 27. If your representation agreement deals with the routine management of your financial affairs, you need additional protection in accordance with Section 12: you must designate a monitor.
You do not need a monitor if your representative is your spouse, public custodian and agent, trust company or credit union. You also don`t need a monitor if you appoint two or more representatives to handle your financial affairs and ask them to act unanimously. An agreement under Section 7 of the Representation Agreement Act may allow a representative to handle the routine management of financial affairs. One day, you may need someone to help you make decisions about your health care, legal affairs or finances. A representation agreement and a mandate can help you prepare for this possibility. A representation agreement looks like a power of attorney, but allows you to appoint someone who handles personal, medical and health matters if you are not able to do it yourself. It lets you say who will be able to make personal and medical decisions for you if you are not able to do so. You can also include specific personal or health wishes in the agreement. In the absence of a representation agreement, you will have no control over who will assist you or who will be able to make personal and medical decisions on your behalf. Two documents that should be included in your estate planning file are a mandate and a representation agreement.