Tuesday 15 May 2012

Most Canadians do not have a Will-Do You?

A recent article in the National Post discussed a recent poll that found a majority of Canadians do not have a will. In my practice, the number of clients without a will is far higher, close to 95%. Why is this so? Perhaps people feel like preparing a will is too expensive. Perhaps it is because most people do not want to turn their minds to the possibility of dying and leaving loved ones behind. There are always reasons but the need for having a Will prepared is obvious. Our office normally charges approximately $250 plus HST for a simple Will.

It is also important that in addition to a Will, you should have a continuing power of attorney for property and a continuing power of attorney for health care prepared as well. I generally charge $75 plus HST for each type of continuing power of attorney.

What is a continuing power of attorney for property? It is a document to appoint a person of your choice to make decisions about your property and manage your finances on your behalf. This may include doing things such as signing documents for you, paying your bills, or even selling your home. This power of attorney will allow the person you appoint to manage your financial affairs even if you become mentally incapable. The person you appoint is called your “attorney for property.”

What is a continuing power of attorney for health care?  It is a document to appoint a person of your choice  to make decisions about your personal care for you if you become mentally incapable of doing so. Decisions about your personal care involve things such as where you live, what you eat and the kind of medical treatment you receive. The person you appoint is called your “attorney for personal care”.

While many people understand the obvious need for a Will, the need for each of the power of attorney documents is less obvious. A recent example is instructive. A gentlemen contacted me about the health care power of attorney. Let's call him Joe. He and his same sex spouse were legally married recently and after an accident, the spouse was in hospital and was not able to give instructions to his treating physician about his health care. When Joe tried to give instructions to his spouse's treating physician, the doctor asked Joe if he had a power of attorney for health care. When he told the doctor that his spouse did not have one in place, the doctor refused to take instructions from Joe about his spouse's health care and instead took instructions from Joe's father in law instead. This completely unnerved Joe and once his spouse was out of hospital (and fully recovered) they immediately had Wills and powers of attorney prepared. 

While this story may be a rare exception, it points to the importance of having your affairs in order before you need it. The process for preparing a Will and powers of attorney is relatively easy and relatively inexpensive for the peace of mind it will bring you and your loved ones. 

If you have any questions about Wills or powers of attorney, please feel free to contact me or check out my profile on Linkedin http://www.linkedin.com/profile/view?id=87716000&trk=tab_pro.


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