The Gift of Estate Planning!

The Gift of Estate Planning!

Your whole family is together for the holidays – there is no better time to discuss your estate plan and have your paperwork prepared. Once you and those that are affected discuss the important issues and make the necessary decisions, you will be ready to provide instructions to your lawyer regarding your estate plan. Everyone can be comfortable knowing the appropriate documents will be in place no matter what situation arises. The appropriate legal documents provide you and your loved ones with a peace of mind. Last Will in Testament – important discussion topics include:

  • discussing who is the most appropriate executor
  • how your assets will be divided
  • how any disabled or minor children will be provided for
  • where your assets (real property, investments, banking) are located

Power of Attorney – the Power of Attorney needs to be signed by your appointed attorney as well as yourself in order to be valid. Once you have discussed with your loved ones and decided who to appoint as attorney, make arrangements with your lawyer to have those documents prepared and ready for signing while your appointed attorney is in town for the holidays. Your attorney must be reliable, good with paperwork and ideally easily accessible in a crisis or emergency, as they will be the person appointed to step into your shoes for legal and financial matters.

Representation Agreement – just like a Power of Attorney, your Representation Agreement dealing with your care should you become incapacitated must be signed by your Representative in order to be valid. It is best to plan ahead and have your lawyer prepare the documents for signing when your Representative is in town. Your representative must be a person who you trust to speak for you and assist you in your tasks related to your health care and well-being.

It will save a lot of time, courier fees and notarization fees if the documents are signed locally and at one time, rather than having to be sent to a different location for signing.

People often put off discussing and preparing their legal estate planning documents because they don’t want to discuss such topics over the holidays, they do not know where to begin, they think they do not have enough assets to warrant an estate plan or they procrastinate, putting it off to another time. The best time is the present! Everyone is in one place and there is little room for miscommunication or error.

Without your estate planning documents, you put yourself and your family at risk in a time of unexpected crisis. Your wishes may not be able to be carried out without significant expense and time, if at all. Give the gift of estate planning for you and your loved ones – give peace of mind for the holidays to come. If you would like advice regarding the preparation of these important legal documents or for more information regarding such matters please contact Chahal Priddle LLP at 250-372-3233 to set up an appointment today.