“ALL GOOD THINGS MUST COME TO AN END”
– There is an end to everything, to good things as well. The proverb dates back to about 1374 (Chaucer)
is the process of sorting out how, when and to whom the proceeds of your estate are to be distributed. It is about planning to fulfill your legal obligations and protecting the interests of your intended beneficiaries upon your death.
includes setting out substitute decision makers during times when you are away, have a health care issue or become incapacitated.
When you meet with our Notary about your estate distribution and personal planning documents you can feel assured that she will make you comfortable discussing such serious matters. The documents you should consider are:
The executor is the person you have chosen to administer the instructions in your Will. Much thought should be given to choosing who that person will be. This person must be trustworthy and organized. You may choose a family member or close personal friend, or you may prefer to name an independent executor such as our Notary or your accountant.
Our procedure for preparation of Wills is a 2-appointment process. Our first meeting will be ½ hour to 1 hour in duration. Our Notary will discuss what your estate consists of and what your responsibilities and wishes are. It can be useful to put together a list of names and addresses of your Beneficiaries as well as a list of your assets. If you own real estate you should bring a copy of your property title or tax assessment.
Once the Will is drafted we will contact you to set up your second appointment for review and execution of the Will, or to make any revisions.
The person you appoint must be someone you trust implicitly. They must be at least 19 years of age. You must understand the effect of a Power of Attorney and you must understand that the Power of Attorney has the potential for abuse. CHOOSE CAREFULLY AND WISELY.
Our Notary will help you understand all the implications when you grant Power of Attorney.
Standard (Section 7) – This type of Representation Agreement allows for limited health care and financial assistance by the Representative appointed. This document is most commonly used when the Adult does not have full mental capacity at the time they are appointing the Representative. Someone with a developmental disability or mental health issue ie. schizophrenia, may also benefit from this type of Representation Agreement. There are some circumstances when a monitor is also required.
The power granted under a Standard Representation Agreement does not include refusal of life-supporting care or treatment, nor does it allow the sale of assets. There are circumstances when a monitor is also required. All of this means less risk to the Adult while still providing a level of assistance that helps them deal with the routine matters in their everyday lives.
Enhanced (Section 9) – This type of Representation Agreement is the most common. The person appointed under this document will be able to consent or refuse consent on behalf of the Adult to almost any type of personal or health care decision (there are a few exceptions). You can tailor this type of document to suit your personal needs, ie. appoint more than one Representative.
An Enhanced Representation Agreement DOES NOT contain financial powers.
THINGS TO CONSIDER WHEN CHOOSING YOUR EXECUTOR, ATTORNEY & REPRESENTATIVE
*Are they trustworthy and dependable?
*Do they understand your values and beliefs?
*Have you clearly discussed your wishes with them?
*Do they reside close enough to be able to respond to issues on your behalf if needed?
*Would they have the time to honour the responsibilities they have been given when called upon?
*Should they be compensated for their time?
An Executor can be paid according to the Trustee Act of British Columbia
An Attorney or Representative can only paid if those instructions are contained in the document
A Representative cannot be compensated for making health care decisions
YOU WILL NEED TO PROVIDE ACCEPTABLE PHOTO IDENTIFICATION TO PROCEED WITH YOUR TRANSACTION. CONTACT US IMMEDIATELY IF YOU DO NOT HAVE ONE OF THE FOLLOWING:
1. Current Drivers Licence bearing your full legal name;
2. Current BCID card bearing your full legal name;
3. Current Passport.
We also require a second piece of identification. We prefer your BC Care Card.
PLEASE BRING ALL ORIGINAL IDENTIFICATION FOR OUR MEETING.