Access the latest news, articles, and other educational resources to protect yourself and the ones you love.
Death is never easy. I know this first hand.
I got married in June of 2012. The day we returned home from our honeymoon, my Mom told me that her cancer had returned. She had been battling cancer up to that point for over 15 years. The plans my wife and I had envisioned for our first year of marriage were put on indefinite hold; we needed to be there for the woman who sacrificed so much for our famly. Watching someone go through cancer is tough.
To execute an Estate is a big task – it requires time, organization, and determination while dealing with the loss at hand. To be an executor means dealing with legal professionals, financial institutions, creditors, legal court system and beneficiaries.
A few years ago, I lost both of my parents. It was heartbreaking and tough on the entire family. We were dealing with two sudden losses, first when my Mother passed away, and then shortly thereafter, when we lost my Dad.
Firstly, it is important to note that a representation agreement is only needed in British Columbia. Secondly, this document is required for personal care planning. It is a legally enforceable document used when a person is incapicitated, entering palliative care (i.e. nearing their end-of-life), or require other support for their health care.
A power of attorney is a very important legal document that protects your family should you become incapiciated, ill, or mentally incapable of making sound decisions. By appointing an ”attorney”, they will have the ability to make legal, financial, and health decisions on your behalf (please refer to your provincial legal guidelines and a legal professional to ensure your power of attorney document is crafted correctly). An attorney can be anyone you trust and feel would be the best caretaker of you and your interests, should the inevitable happen.
The majority of Canadians do not know the difference between a power of attorney and a will but it ultimately comes down to life and death. A will protects your wishes after you have passed, whereas a power of attorney protects your needs while you are alive.
A Will is…? A will is a legal document that lists the items in your estate and declares who should get specific items, according to your wishes.
Jessie Vaid, the founder of ReadyWhen, has been a Notary Public in BC since the early 2000’s. During this time he has assisted thousands of clients with their estate plans. In doing so, he was often struck by how the current manner of completing an Estate plan is neither user friendly, nor environmentally friendly, as it is very paper heavy. There was clearly an opportunity to improve on the rather cumbersome and somewhat antiquated processes within estate planning.
Creating a will is hard. It requires us to look at our own mortality, and forces us to address a big question: what is our legacy after we’re gone? This requires some tough thinking. Difficult or not, it’s essential to make a will, especially if you are a parent, or...
There comes a time in everyone’s life when they begin to think about how they will protect their family, and share everything they worked so hard to build over their lifetime. The first major step in this process is writing a will. A will dictates how your final wishes will be carried out, and how you wish your estate to be disbursed, when the inevitable happens.