Can I act as power of attorney?

January 23rd, 2015 by Questions

Are you allowed to act as a Power of Attorney for an elderly parent once you have filed for bankruptcy, also is it public knowledge of ones bankrupt status and where would one obtain information this information?

Posted from: Ontario

Questions

One Response to “Can I act as power of attorney?”


January 23, 2015 at 2:15 pm, Doug Stuive, CA | Trustee | CIRP said:

A person that is an undischarged bankrupt cannot be appointed as a Power of Attorney over another person’s financial affairs. Once you are discharged from your bankruptcy you can be appointed as a power of attorney for your elderly parents. Having a bankruptcy in your past does not prevent you from becoming a power of attorney.

Bankruptcy is a matter of public record. The records are held with the Office of the Superintendent of Bankruptcy and can be searched online for a small fee. Anyone is able to perform a search of these records. In some more complicated bankruptcy estates the information may be obtained through court records, or even in the local newspaper. However, in most consumer bankruptcies you would have to actively perform a search of these records to find out if a person has declared bankruptcy.

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