WHEN IS THE TIME TO DO YOUR WILL AND POWER OF ATTORNEY?
By: Hercules Faga, Barrister and Solicitor
Most people are under the misapprehension or misunderstanding that doing your Last Will and Testament is something you do when your old? After all you have to sort out who gets your property when you die and that won’t be for a long, long time! Most have heard about a Power of Attorneys, but that’s really for someone else? Right?
The answer is an unequivocal NO! Things happen in life and if you’re not prepared then the people you love around you are the ones who will suffer the most!
Let me explain. The Last Will and Testament is a document that actually governs or takes effect the moment you die. You can designate someone immediately to manage your affairs, someone you trust that will do the right thing by you. It specifically details who gets your property and assets and there are alternates you can name if something happens to the primary person or persons you name. You can name guardians to care the the most precious people in your life, you minor children. The beauty of this document is that is doesn’t expire! But you can change it anytime as things in your life change. Don’t you want to ensure that the people you trust most in your life will be taking care of your property and assets and that it goes to the persons you want them to go to,? Then absolutely you need to have a Last Will and Testament!
What about a Power of Attorney? What is it? The document names someone you trust most to act on your behalf and in most cases in situations where you are mentally incapacitated. For example, let’s say you’re were in a car accident and you were in a coma. You are mentally incapacitated and here’s the difficult concept to grasp…NO ONE has legal authority under the law to make decisions for you! NO ONE…means no one, not your wife, husband, sibling, mother, father, commom-law-spouse…no one. The downside is if you are mentally incapacitated you can’t decide things for yourself. If you need treatment or a procedure at the hospital, they want you to consent to any procedure! You can’t do it. If you’re there at the hospital on behalf of someone, they don’t ask you if you are the wife, husband, spouse, mother or father, they ask you if you are the patient’s named Attorney under a Power of Attorney. The hospital cannot touch you without your permission, it’s illegal, they can be sued and worse, charged under the Criminal Code with Assault! Imagine something happens and you are a common-law spouse whose partner is not divorced yet and the ex-spouse tries to assert authority in that situation. Now that’s just dealing medical treatment issues. Your property is another matter. With your home, you can’t sell it, mortgage it or deal with it. You can’t even renew the mortgage! You can’t deal with bill’s that are in the name of the person who is incapacitated because no one has authority to sign on their behalf. Bills are a problem also because of privacy legislation. You can’t call for example, a mobile cell company to get information about an amount owing because you’re not on the account and you can’t cancel the service for someone who may be in a coma because you are not authorized to do so. It can get very bad.
So bottom line, when and who should get their Wills and Power of Attorneys. The answer is very simple. If you are single person with virtually no assets, you should have it done. If you are married or in a relationship, you should have it done. If you have children, you should have it done. If you have property, you should have it done. Basically If you over the age of Majority… you should have it. Only minors cannot do a Will and Power of Attorney. So basically everyone!
Protect yourself and your loved one by getting your Will and Power of Attorney. Have it prepared with a lawyer so you know it will be done right. I had clients who prepared them with so called “Will Kits” and they were not done properly. You are securing and protecting the future of your spouse, children and loved ones. Take the time it will be worth it!
