Law 2101 Lecture Notes - Lecture 2: Testator, Holograph
3 Mar 2016
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Document Summary
Poa= legal document allowing one person to appoint another to act for them. Two kinds of poas: continuing power of attorney (cpoa, power of attorney for personal care. Allows attorney to manage the grantor"s property and make financial decisions on the grantor"s behalf (e. g. banking, pay bills, buy and sell assets) Effect: a cpoa authorizes the attorney to do anything that the grantor can do with respect to property. Limitations: grantor can put restrictions in the cpoa. Capacity: grantor must have sufficient mental capacity to make a cpoa (the test is set out in substitute. Suspected wrongdoing or negligence: revocation and/or passing of accounts, passing of accounts can be requested by: Any other person, with leave of the court. Regulations require poa for an incapable person to keep certain records. List of all the incapable person"s assets when took over estate. Ongoing list of assets acquired and disposed of after appointment. Ongoing list of all money paid out.
