Wills and Power of Attorney
Speaking with your Notary Public or lawyer about making a will is a very important part of planning for your family’s future. If you die without a will, your property will be divided according to British Columbia law, and the costs of administering your estate will increase. You will also be giving up the right to appoint the guardian of your choice.
Speak with a Notary Public or lawyer to ensure that your will is properly made. At Vancouver Downtown Notary, we take the time to sit down with you, talk to you, and fully understand your testamentary wishes. There are many kits you can find online that assist you to make your own will but there are many rules when it comes to will making that must be followed. If these rules are not strictly followed, your will may not be considered legal. If your will is deemed not to be legal, it can create a lot of problems for your heirs.
If you want help drafting a will, please call us at 778-819-8553 or email at [email protected]
Power of Attorney:
A power of attorney is a document that appoints another person, called an “attorney,” to deal with your business and property and to make financial and legal decisions for you.
There are a number of requirements for a power of attorney. Firstly, you must be mentally capable at the time you sign any type of power of attorney for it to be valid. In general, to be mentally capable means that you are able to understand and appreciate financial and legal decisions, and understand the consequences of making these decisions.
Types of Power of Attorney:
A general power of attorney is a legal document that can give your attorney authority over all or some of your finances and property. It allows your attorney to manage your finances and property on your behalf only while you are mentally capable of managing your own affairs. It ends if you become mentally incapable of managing your own affairs.
An enduring power of attorney is a legal document that lets your attorney continue acting for you if you become mentally incapable of managing your finances and property. It can also give your attorney authority over all or some of your finances and property. An enduring or continuing power of attorney can take effect as soon as you sign it. In some cases, it is possible to have the power of attorney come into effect only when you become mentally incapable, if this was specified in the document.