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Generally speaking, the Attorney may annually receive 3% of all of the income of the Grantor, plus 3% of the money being paid out on behalf of the Grantor PLUS 3/5th of 1% of the assets of the Grantor.

You do not need a lawyer to create a legally binding POA in Ontario. The Ontario government even provides free online kits to create your own POA. However, in order to create a legally binding document, you do need to follow some requirements: Your POA needs to be a physical document, like your will.

For most people, the best option is to have a general durable power of attorney because it gives your agent broad powers that will remain in effect if you lose the ability to handle your own finances. An attorney can customize a general POA to limit powers even more?or add powers, Berkley says.

You can also download it by going to this website: .attorneygeneral.jus.gov.on.ca. Whether you use the form provided by the Office of the Public Guardian and Trustee or another form, it is a good idea to consult a lawyer or community legal worker before appointing an attorney.

Similar to a legal last will and testament, you do not need to have your power of attorney documents notarized for them to be legal. This applies to power of attorney documents in all provinces in Canada. However, there are a couple instances where you may want to include a notary.

Does A Power of Attorney Need To Be Notarized In Ontario? In Ontario, there are no requirements for your power of attorney to be notarized. If you've followed the guidelines for signing and witnessing, you have a legal power of attorney document!