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Thread: Have You Done Your Will And Power Of Attorney ?

  1. #61
    Canadian Genius redhdlois's Avatar
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    Quote Originally Posted by frugal50 View Post
    no, im still young withh no dpendents
    I"m not that young, but have no dependents either. The most important thing for me was appointing a Representative and completing my Advance Directive in case I become incapable....I have strong beliefs regarding my health care, so important for me to get that done. And mainly, I didn't want to burden family or friends with any difficult decisions to make about my care if I'm incapable.
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    Super-walking bean bun! Ciel's Avatar
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    Quote Originally Posted by redhdlois View Post
    Sounds to me like that estate lawyer is drumming up business.......I think it's important to review your will and documents annually, but unless your family or beneficiary situation changes, you shouldn't have to be updating your will every 2 years......
    The reason he suggested every two years is that in his experience people will wait to review every five years. If he had said every five years, he knows the reviews will happen in year ten. But life can change for anyone in two years, never mind five years.
    Thanks for sharing your Advanced Directive experience. The document was scarcely mentioned in the talk until the end. The lawyer was emphasizing why the Office of the Public Trustee is offering the free Power of Attorney kits to the public-the office is too busy to look at all the documents that they currently have. And it takes time to get the Office of the Public Trustee involved, so one is best to plan ahead, ask others to act for them on the Powers of Attorney and keep them updated as circumstances change.
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  3. #63
    Super-walking bean bun! Ciel's Avatar
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    Check to see if any group or entity is doing a talk on these topics in April in your area. Last month of tax season so financial topics are relevant now.
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  4. #64
    Sith Lady and Cool Kid Darth Penguin's Avatar
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    Mr P died without a will..It's incredibly frustrating and both the lawyer and the bank imagine it will be nearly 2 years and a lot of money to sort out his estate.

    With a will... a few weeks and a lot less cash..
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    Short answer : no Long answer : NOOOOOOOOOOO!

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  5. #65
    Super-walking bean bun! Ciel's Avatar
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    Quote Originally Posted by Darth Penguin View Post
    Mr P died without a will..It's incredibly frustrating and both the lawyer and the bank imagine it will be nearly 2 years and a lot of money to sort out his estate.

    With a will... a few weeks and a lot less cash..
    With both of those providers asking market rates to do estate work, it'd be better to have the cash in your account/hands rather than theirs. Two years-let's hope that you will not need that much time to settle estate matters. I can understand two tax returns (2016 and a final one much later).
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  6. #66
    Super-walking bean bun! Ciel's Avatar
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    If you read Vitality magazine, there is a letter to the editor in the Dec. 2017/Jan.2018 regarding the high cost of keeping medical files (paper or electronic) as an executor for someone who was a doctor (records have to be kept for so many years-7). The executor has bills in the thousands but no access to EI money or other money. She was not getting any assistance from two organizations, each one telling her to contact the other one.

    So if you have a family member that has legal obligations (through their professional regulatory body or the CRA) as a healthcare provider to keep medical records and has YOU listed as their executor, you better have an estate planning chat NOW regarding how to fund those storage fees for 7+ years or find out what the file succession plan is. When I saw the letter, it reminded me of why another doctor was likely listed in the public notice ad for a family doctor who passed away. Patients had a certain time frame to pick up their records or the succeeding doctor was taking possession of the files.

    Same logic likely applies to business records-7 years or as the CRA says, 6 years after the date of filing income tax returns.

    Who wants to be an executor for 7 years??
    Last edited by Ciel; Tue, Jan 2nd, 2018 at 02:19 PM.
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    Super-walking bean bun! Ciel's Avatar
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    Hamilton Mountain News has the ad promoting the free simple wills for 55 years old and up in Hamilton/Burlington for the month of October 2018.

    https://freewillsmonth.ca/

    5 charities are funding Free Wills Month in the hope you will include one or more of them when you write or update your Will.
    Appointments are limited.
    Ad mentions the following three lawyers-be sure to quote Free Wills Month when you call them:

    Henri J. Charlebois Law Office (Burlington)-on Mainway
    Campbell Mihailovich Uggenti LP-Bilal Mirza (Hamilton)-on Fennell Ave E.
    Connor Connor Guyer & Araiche Professional Corporation-Gabriel Araiche (Hamilton) -also on Fennell Ave. E.
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    Super-walking bean bun! Ciel's Avatar
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    Ad in today's Spectator by a Hamilton law firm is offering free reviews, including wills/POA. See the front section, page A2.
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  9. #69
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    Looking for a special on wills and POAs in St Catharines and area - if anyone hears or sees an ad - would you mind sharing?


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    Super-walking bean bun! Ciel's Avatar
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    @endi2000 You may have to wait until October to see a promotion in your area.
    http://www.niagaralaw.ca/october-is-...st-catharines/

    Meanwhile, check your public library and area ones for free talks on wills and estates during winter to early spring. That is when many financial planning speakers tend to be active (tax time).

    Grimsby Public Library has an April event about Being an Executor. There are only 12 spots for it. I highly recommend such a talk to learn of steps and information you need to share with people you will involve in your will/estate matters, if you don't already have this knowledge.
    https://events.grimsby.ca/library/De...ng-an-Executor
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    Frosh Canuck
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    Quote Originally Posted by Ciel View Post
    @endi2000 You may have to wait until October to see a promotion in your area.
    http://www.niagaralaw.ca/october-is-...st-catharines/

    Meanwhile, check your public library and area ones for free talks on wills and estates during winter to early spring. That is when many financial planning speakers tend to be active (tax time).

    Grimsby Public Library has an April event about Being an Executor. There are only 12 spots for it. I highly recommend such a talk to learn of steps and information you need to share with people you will involve in your will/estate matters, if you don't already have this knowledge.
    https://events.grimsby.ca/library/De...ng-an-Executor
    Thank you!


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  12. #72
    Super-walking bean bun! Ciel's Avatar
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    Two information sessions on power of attorney and wills are coming to Hamilton and Burlington. RSVP required.
    https://www.baygardens.ca/events

    Next month, I anticipate that Ontario will have the Free Wills program again.

    Next week at Cedarbrae branch of Toronto Public LIbrary:
    https://www.torontopubliclibrary.ca/...76&R=EVT410276
    Last edited by Ciel; Thu, Sep 26th, 2019 at 07:29 PM.
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  13. #73
    CaToonie
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    Had my mother in law get scammed (romance scam - three times!) out of all her money. POA is useful, but unless they are completely out of it or ill and unable to make decisions there is not much you can do. Better to have a will or POA though. Makes things a little easier.
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  14. #74
    Super-walking bean bun! Ciel's Avatar
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    Recently a local magazine mentioned the need for a family succession plan as in, beyond a POA, what can the family do for a family member if s/he loses faculties and there's a household to run, minors to support and pets to care for-what are their wishes? One more chat that often only happens after the fact, not in advance.
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  15. #75
    Easy Glider GoodBoy's Avatar
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    In Ontario I have two Powers of Attorney:
    - A General Powers of Attorney for Property
    - A Powers of Attorney for Personal Care

    Any competent lawyer should know and be able to prepare both.

    I have these in addition to a will.
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