One of the most important things you can do for yourself and your loved ones is to prepare in advance for a time when you are unable to effectively communicate and make decisions regarding your own needs and wishes. Consider these required documents:
Enduring Power of Attorney
An Enduring Power of Attorney allows adults who are mentally capable to appoint one or more trusted persons to handle their financial and legal matters on their behalf, while they are capable and in the event they become incapable.
The Representation Agreement appoints one or more persons to make decisions regarding your health and personal care in the event you are unable to communicate effectively.
Wills are the best known of the document options. In a 2010 survey 51% of adults in BC admitted to not having a Will. It is something people commonly procrastinate about! Without a Will the Court determines who your Executor will be and the law decides who will share in your estate.
Making a Will is a prudent decision to be made by every responsible parent. If both parents are deceased your children will most likely be placed in the care of the Ministry until it is determined who best matches the criteria set down to become Guardians. The process could take months and grandparents may be excluded due to their age or health situation.
Having these 3 essential legal documents in place ensures that your family will be prepared to act for you. They will not face frustration and financial burdens
Things to do before you meet with your Notary Public:
01Choose a trusted friend or relative to be the Executor and one to be an Alternate Executor (in case the first person cannot act or continue to act). Ask if they would be willing to act for you in this capacity and obtain their full legal names.
02If you have minor children (under 19) you will need to appoint Guardians who will act in the event both you and your spouse have died. Choose a person (or a couple) to be the Guardians and a second person (or couple) who would act as Alternate Guardians (in case the first couple are unable to act or to continue to act). Ask if they would be willing to act for you in this capacity and obtain their full legal names.
03Prepare a list of the full legal names of your children and any other beneficiaries. If a charitable organization is to be a beneficiary obtain their correct legal name, address and registered charitable number (if available).
04Think about whether you would like your remains to be buried or cremated. If you are undecided your Will can be prepared without including this information.
There are other considerations which your Notary Public will discuss with you at your first meeting.
End of life planning will be easier than you imagined with the help of your Notary Public.
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