Wills

To prepare for making a Will you should make a list of the following:

Your legal name (any aliases) and address.

Full name and address of whom you wish to appoint as your executor.

Full name and address of whom you wish to appoint as an alternate executor (should your first choice be unable to act).

A brief description of your assets.

A detailed description of any items or specific sums of money you wish to leave to beneficiaries.

How you want to distribute the balance of your estate (often referred to as the “residue” of your estate) after specific items or money have been given, if any.

Full names and addresses of all beneficiaries.

If a beneficiary should predecease you, who should recieve his or her share?

If you have children under 19 years of age, the name and address of the person(s) you wish to designate as guardian.

Information on any burial or cremation arrangements you may have.

Choosing an Executor

Your executor is responsible for administering your estate, arranging your funeral, proving the Will, liquidating the estate, paying debts, distributing assts as the Will directs and many other duties.

Choosing an executor is a major decision. It is important that your executor be able to keep proper records and be available for an extended period of time to administer your estate. You should be sure and discuss this responsibility with your potential executor as it is a very time consuming job.

An executor is entiitled to be paid up to 5% of the gross value of the estate depending on the complexity of the estate, but you can stipulate in advance what the fee should be.

An independent executor can often resolve conflicts among siblings or disappointed relatives. Some people choose an independent person such as a Notary Public to act as their executor.

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Representation Agreements

A Representation Agreement is a tool that allows your appointed representative to make legal, financial, personal and health care decisions for you.

There are two types of Representation Agreements, Standard and Enhanced. Standard Representation Agreements cover routine financial and/or health care decisions, while Enhanced Representation Agreements give broader powers to the representative, including the ability to deal with real property and make major financial decisions.

Representation Agreements are much more thorough than the Power of Atorney. They may include your health care needs, you may appoint different representatives for different purposes and you may appoint a Monitor (optional) who will ensure that your representative is carrying out your wishes and maintaining your legal and financial affairs.

Powers of Attorney

You should consider whether or not you may require a Power of Attorney. This document allows your attorney (the person appointed by you ) to manage your real estate and financial affairs in your place. This is particularly useful in the event of your absence, or if ou become incapacitated due to physical or mental health problems.

Who can be my Attorney???

The person who you appoint as you attorney should be someone who is prepared to accept the responsibility. The person much be 19 years or older, must be mentally capable and understand what it means to have power of attorney or to be a representative.

You can appoint your spouse or partner, a friend or a family member. You can appoint more than one person. An attorney’s authority starts from the moment the Power of Attorney is signed, not when a need arises so it is essential that the person be truthworthy.

There are some precautions a person can take to prevent it being used while you are still able to look after your own affairs.

Simple Wills

Powers of Attorney