How do a Last Will and Power of Attorney work together? Both of these documents serve a separate purpose and provide protections to a person while they are alive and after their death. Contact us today for a comprehensive plan tailored to your specific situation.
Contact Us ▸A Last Will and Testament (Will) is a legal document that describes how you want your estate to be divided once you die. Your estate includes what you own (your assets) and what you owe (your liabilities).
Wills generally cover issues such as:
- Appointing an Executor
- The distribution of property and assets upon death
- Guardianship of dependents
- Funeral arrangements
An Executor is the person you name on your Will to manage your affairs after you die.
A Power of Attorney is a legal document that gives one person, or more than one person, (called an “attorney”) the right to make financial, medical, and other decisions on your behalf. The person who is named as the attorney does not have to be a lawyer. It is important to choose a Power of Attorney carefully as he or she can make profoundly important decisions about your property and assets, medical treatment, and quality of life in conjunction with your wills and estates planning.
A Will is a legal document that describes how you want your estate to be divided — it takes effect after you die.
An Executor is the person you name on your Will to manage your affairs after you die.
A Power of Attorney generally acts on your behalf while you are still alive but unable to do so on your own
It is recommended that you review legal documents every two years – even if you think your circumstances have not changed. This Checklist can help you decide if you have experienced any changes that warrant a new or updated Will.
In Ontario, there are three kinds of Powers of Attorney:
1. A Continuing Power of Attorney for Property covers your financial affairs and allows the person you name to make decisions for you if you become incapacitated and are no longer able to do so yourself.
2. A non-continuing Power of Attorney for Property covers your financial affairs but can’t be used if you become mentally incapable. This type of arrangement is more temporary in nature. For example, if you need someone to look after your financial affairs while you’re away from home for an extended period of time.
3. A Power of Attorney for Personal Care (POAPC) covers your personal decisions, such as housing and health care.
It is recommended that you choose a person(s) whom you trust. In Ontario, anyone who is 18 years of age or older and who is mentally capable can be named as a Power of Attorney for Property.
It is recommended that you choose a person(s) whom you trust. In Ontario, anyone who is 16 years of age or older and who is mentally capable can be named as a Power of Attorney for Personal Care. You can name someone who lives outside of Ontario. You cannot name a service provider whom you pay, unless that person is a relative. Choose this person(s) carefully as your attorney can make profoundly important decisions about your health, safety, housing, and quality of life.
Ensuring that your wishes are carried out after you pass away or become incapacitated can be a complex and sensitive task. Our qualified team of lawyers can help you navigate the legal process of creating a will or power of attorney and provide you with the legal advice and guidance you require throughout the process. Request a consulation now!
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Khan Law is a boutique law practice that has been providing legal services to the Greater Toronto Area since the year 2000.