Released on December 31, 2014Amendments to Saskatchewan’s powers of attorney legislation will allow for better management of estates, as well as enhanced protection for vulnerable adults.
“Through consultations, we identified gaps in the existing legislation when it came to managing the financial affairs of those who are no longer capable of doing it themselves,” Justice Minister and Attorney General Gordon Wyant said. “These changes address those issues and better protect vulnerable adults from potential wrongdoing.”
Changes under the Powers of Attorney Amendment Act, 2014 include:
- Requiring an attorney to provide a final accounting when he or she stops acting;
- Placing restrictions on what attorneys can charge for managing an estate;
- Allowing attorneys to make gifts from an estate if the power of attorney document specifically permits it, or if the attorney has reason to believe the property owner would have done so;
- Placing limitations on the total value of gifts an attorney can make out of the estate in one year; and
- Giving the Public Guardian and Trustee the power to investigate an attorney’s management of an estate.
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