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Podcast Transcript – Elaine Blades
As Director of Fiduciary Products and Services, Scotiatrust, Elaine Blades deals on a daily basis with client issues of wills, trusts, and powers of attorney. Our conversation with her, covered a few basic, introductory comments. Elaine explains some basic terms and laws around POA issues including:
- What is a Power of Attorney?
- What terminologies do we need to know?
- What is the difference between a Power of Attorney for property vs. for care?
- Who can make a Power of Attorney?
- Who can act as an attorney?
- When does a Power of Attorney take effect?
- What if I don’t want my attorney to begin acting right away?
- What if I become incapable, but have not prepared powers of attorney?
- Can an attorney for property be compensated?
- What duties does an attorney assume?
- Who should I appoint as my attorney for property?
- Does an attorney assume any liability?
- Can an attorney refuse to take on the role?
- What are the common misunderstandings of power of attorney?
Elaine’s introductory comments set the stage for others to continue and cover other legal issues in future podcasts.
This episode is sponsored by:
About Elaine Blades, LL.B, J.D, MTI, TEP
Elaine is a graduate of Osgoode Hall Law School and was called to the Ontario Bar in 1989. After a short time in private practice, Elaine moved to a role in the trust industry. In her current role as Director, Fiduciary Services at Scotiatrust, Elaine is responsible for the positioning of all personal trust services. She is a former instructor at the Bar Admission Course and is on the curriculum committee at the Trust Institute. Elaine writes a bi-weekly column for Advisor’s Edge Report and is regular contributor to the All About Estates blog. Elaine is married with two teenage sons.
Scotiatrust
The professionals at Scotiatrust have helped generations of Canadians plan, preserve and transfer their wealth. Scotiatrust can assist you in developing and implementing a personalized estate plan incorporating professional executor, trustee and attorney for property services.
elaine.blades@scotiaprivateclient.com Visit Website
