Wills & Powers of Attorney
Life can be unpredictable, but planning for the future while you are healthy and capable can make that future less stressful for you and the people you love. Call us at 705-748-2211 for information about our clear and reasonable fees and to set up an appointment with Nick. Nick will discuss your wishes, answer your questions, and provide you with the information necessary to make the important decisions related to completing a Will or making Powers of Attorney.
A Will is a legal document that allows you to control how your property is distributed after you pass away. These are some of the most important and common things that a Will can help you do:
- Name your Executor or Trustee – this person will have the responsibility of managing and administering your Estate (your property and assets) after you pass away and making sure that the directions in your Will are followed.
- Name your beneficiaries – these are the people that will inherit your assets and property.
- Create a Trust for any young beneficiaries, controlling when and how they will receive an inheritance.
- Create a Trust for a beneficiary with disabilities.
- Name a temporary guardian for your minor children.
- Express your funeral wishes.
- Express what you intend to happen to property you own jointly with someone else after you pass away (like a home or bank account).
Powers of Attorney
A Power of Attorney is a legal document that allows someone else to make decisions for you while you are still alive but incapable of making those decisions. There are two main types of Powers of Attorney in Ontario – the Power of Attorney for Personal Care and the Continuing Power of Attorney for Property.
Your attorney for Personal Care has the authority to consent to healthcare treatment on your behalf if you aren’t capable of consenting. They can also make day-to-day personal care decisions like deciding where you will be living. The process of creating a Power of Attorney for Personal Care can allow you to express your personal healthcare wishes.
Your attorney for Property has the authority to manage your property and money if you aren’t capable of doing so. Generally, this attorney can do anything with your property that you could do if capable, except for make or alter a Will that you made.
Planning ahead and creating Powers of Attorney while you are still capable can ensure that if you lose the capacity to take care of yourself in the future the person who ends up making decisions for you is someone that you trust and someone who sincerely cares about your well-being.