Canadian Snowbirds, Part II

Trust Me, Part I
February 10, 2016
Canadian Snowbirds, Part I
February 16, 2016
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Canadian Snowbirds, Part II

Q. We are Canadian citizens: Do we need durable powers of attorney in Florida if we already have them that were done in Canada?

A. You might and whether you do depends on whether you have funds in a U.S. bank or in some financial institution in the U.S.; and you might need to have someone such as a spouse or child or relative, access those funds if you are not in the U.S.; or if you are not otherwise able to do so. (Sorry for the long rambling sentence.) It seems that U.S. banks and financial institution take the view that a foreign drafted power of attorney, even if it’s a durable power of attorney, is not acceptable for the purpose of accessing funds in a U.S. bank. What I suggest you do is to take your Canadian power of attorney to your U.S. bank or to your U.S. financial institution and see if it is acceptable. If not, then you should see your attorney to have a durable power of attorney drafted here. NOTE: you will want to make absolutely sure that the attorney drafting the U.S. power clearly provides that your U.S. power of attorney does NOT revoke the one you have in Canada and that it is ONLY valid for U.S. transaction. You probably should have a U.S. attorney draw it up for you.

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