Three reasons why you need to think about power of attorney now
September 08, 2015
You ask yourself a lot of questions when you're preparing to retire: Will I have enough money? Will I get bored? Am I really ready? But have you asked yourself the most important question of all? If I'm unable to make my own decisions, who would I want to act on my behalf?
If something happens, and you are no longer of sound mind, we need to know if you've given someone the legal authority to make decisions or inquiries related to your Teachers' pension.
You don't have to designate a power of attorney, but here are three reasons why you should:
- You are ensuring that decisions made on your behalf are made by someone who you know and trust.
- You will reduce red tape. With a validated power of attorney on file, all we will need is a doctor's confirmation of incoherence to allow your loved one to take charge of your pension on your behalf.
- It's a simple process and you can do it at any time. Check out the Ministry of the Attorney General's Power of Attorney kit for more information.