It is important for older Canadians to know how a power of attorney or a joint bank account works before you use them. There are risks and advantages to both.
There are mechanisms in place to hold an attorney accountable if they mismanage your finances or do not manage your money in the way that you directed them to in the power of attorney document. It is very difficult to hold a joint bank account holder accountable for the mismanagement of money in the account.
This resource was prepared by the Canadian Government and available on the web or as a printable PDF.
There are mechanisms in place to hold an attorney accountable if they mismanage your finances or do not manage your money in the way that you directed them to in the power of attorney document. It is very difficult to hold a joint bank account holder accountable for the mismanagement of money in the account.
This resource was prepared by the Canadian Government and available on the web or as a printable PDF.
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