Estate and Personal Planning
A Last Will and Testament is a very important document which comes into effect after your death and can ensure your wishes are met.
A Last Will and Testament
- Outlines where and how your possessions and estate are distributed after your death. Ensure that your estate is distributed, and your loved ones are looked after as per your wishes.
- Gives authority to your named Executor/Trustee to wind up your affairs and distribute your assets. Your Executor/Trustee should be able to manage the many tasks associated with winding up your estate. This will include:
- paying off your debts and funeral expenses,
- Compiling a list of assets and liabilities,
- contacting beneficiaries,
- selling assets,
- preparing your final tax return, and
- distributing your estate as described in your Will.
If you pass away without a will, you are considered to have died “intestate” and the distribution outlined in the current law will be followed to wind up your estate and distribute your assets.
What Is A Power Of Attorney?
A Power of Attorney is a document where an adult names someone as their “Attorney” and gives them power to look after the financial affairs of the adult. The Power of Attorney can be specific to a certain task, i.e. sale of a property while the adult is out of the country, or can be specific to a time period, i.e. valid only for one year. A Power of Attorney is valid during the lifetime of the adult, or until it is revoked. An enduring Power of Attorney is valid when you are no longer mentally capable.
What is a Representation Agreement?
A Representation Agreement allows you to appoint a representative to make health care decisions for you when you are unable to do so for yourself. This representative may be a friend or loved one – someone who knows your wishes and values. This document can give you peace of mind knowing your health care wishes will be followed if you become incapacitated.
A Section 9 Representation Agreement gives the representative the authority to make major health care decisions, including “end of life” decisions.
A Section 7 Representation Agreement includes minor health care decisions and financial decision-making but does not include “end of life” decisions. Generally, a Section 7 Representation Agreement is catered to someone who may have diminished capacity.
What is an Advanced Health Care Directive?
This document outlines your health care decisions in the event you are unable to communicate to your health care professional. Essentially, you are giving specific directions to your doctor regarding your healthcare, in advance. This document may be suitable for someone who has a certain condition, who wants to give specific instructions to their doctor if they become incapacitated.
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Location
#105 - 11893 227th Street,
Maple Ridge, BC
V2X 6H9
Canada
Conveniently located in the Brickwater Building!
Street parking available