Can my attorney for property change or sell my investments in Ontario?

Generally, yes. Unless your power of attorney document places specific restrictions on investment decisions, your attorney for property in Ontario has the authority to manage your investment portfolio, including buying and selling investments on your behalf.

However, this power comes with an important legal standard. Under Ontario law, an attorney managing investments must follow the prudent investor standard. This means they must act as a careful, prudent person would — taking into account the purpose of the investments, the need to balance risk and return, and your specific circumstances and any directions you gave. Making speculative or self-serving investment decisions would be a breach of their duty.

You can customize the document to give more specific guidance. For example, you might instruct your attorney to maintain a conservative investment strategy, to consult a specific financial advisor before making changes, or to leave a particular portfolio untouched. These instructions must be clear and in writing in the power of attorney document itself.

If you have strong views about how your investments should be managed during incapacity, discuss them with a lawyer and make sure those directions are properly included in the document. Verbal instructions to your attorney are far less reliable than written ones.