Wills and Personal Planning
Wills and Personal Planning
A well-crafted will protects those you care about, ensuring they’re not burdened by additional stress during an already difficult time. At Zancope Notary Public, we have a passion for guiding people through personal planning and helping them create up-to-date wills.
Creating a Will
A will is a critical tool for outlining your wishes for the guardianship of minor children, distribution of assets and the designation of an executor to administer your estate. By not having a will, you give up the right to appoint a guardian for your children and lose control over how your estate is divided. You also leave more work and expenses for your loved ones.
We will walk you through the process of creating your will, providing guidance that is personal, practical and real. If you would like to learn more about creating a will, please call or email us.
Personal planning involves making arrangements to help you organize your life while you are alive. Personal planning can apply to any of the following areas: healthcare, personal care, legal matters or financial affairs.
Power of Attorney
A power of attorney is a document that allows you to authorize another person to sign documents and act on your behalf. Along with a will, a power of attorney is an important document that every adult should have. While a will is about the future, taking effect after your death, a power of attorney is about the present or future.
A power of attorney can allow someone else to make decisions and take actions on your behalf. This is important in the event you become unable to act for yourself. A power of attorney can be general or specific. A general one may authorize a person to act on your behalf in a variety of contexts, or you can create a specific power of attorney for an explicit purpose and / or for a defined period of time, and revoke it whenever you choose. There are a number of different powers of attorney for a variety of circumstances. At Zancope Notary Public, we can work with you to draft a power of attorney document that fits your needs. Please call or email if you’d like to learn more.
Why Create a Power of Attorney?
You can create a power of attorney document to manage financial arrangements such as buying/selling assets, signing tax returns and authorizing someone to sign documents to sell a house while you are out of town. You can also authorize another person to pay your bills or make deposits into your account while you are away on vacation.
Through an enduring power of attorney, you can appoint someone to conduct all of your financial and legal affairs if you become mentally incapable due to illness, disease or accident. Without an enduring power of attorney, your family may have to go to court to get the legal right to manage your affairs. A power of attorney is a simple and inexpensive way to plan ahead and choose who will help you with your finances.
We would love to speak to you about preparing the right power of attorney for your needs.
A representation agreement is similar to a power of attorney, allowing you to appoint someone to assist you with your decisions. However a power of attorney document is restricted to financial and legal decisions. A Representation agreement appoints someone to make personal healthcare and medical decisions, including providing or withholding consent for specific medical procedures.
What do I Need to Know About Creating a Representation Agreement?
When creating a representation agreement, it is important to confirm who you want, as well as who you do not want, representing you and making medical decisions on your behalf. A representation agreement begins the day you sign it, or you can choose when or under what circumstances you want the agreement to start. You may also choose to change or end a representation agreement at any time. Once you are declared mentally incapable, you may not be able to change or end the representation agreement.
Types of Representation Agreements
There are two types of agreements available based on different areas of law. We can draft the best agreement for your situation. Both types are fundamental in that they are designed to enable you to make your own decisions as long as possible. When support is required or requested (by the adult who’s been given the authority), then the representative steps in to help with and/or make decisions. The kind of support the representative can legally offer depends on what is specified document.
An advance directive is a legal document in British Columbia for giving instructions about healthcare. This documents allows you to list your directives instead of leaving the decision in the hands of someone else. An advance directive can have limitations if it is the only planning tool, but you can give it to the representative named in your representation agreement to apply according to your intentions.