The following constitutes general principles only and not legal advice. Every situation is different. You should consult a lawyer, and you should not obtain legal advice from a website.
Estates & Trusts
As professionals, we can offer you legal advice and work with you so that your wishes are specifically tailored to your personal circumstances. We can guide you through cost-effective options with respect to the distribution of your assets and answer any questions you may have with respect to your obligations to any dependents.
If you have questions with respect to estate planning, setting up trusts for your beneficiaries, or planning for any incapacity, come see us at
Smith Alliance Lawyers & Notaries.
A Representation Agreement appoints a person of your choosing to make health care and personal care decisions for you when you are no longer capable of making those decisions yourself. An Advanced Directive is a legally binding document which specifies what health care decisions you want made, in the event you are no longer capable of making those decisions yourself. An Advanced Directive is legally binding on both health practitioners and your Representative, if you have chosen one through a Representation Agreement.
Appointing a person to be your Attorney under a Power of Attorney allows that person to take care of any financial responsibilities or legal matters that you have, in the event that you become incapacitated, experience illness or an accident, or in the event that you are not available due to a job situation, travel, etc. An Attorney’s responsibilities can include anything from day-to-day banking, renewing mortgages, managing the sale of a business, etc. You have the ability to restrict the powers of your Attorney as you prefer or to give your Attorney powers broad enough to cover all your financial affairs whether you are capable or become incapable.
If you have a valid will, you get to decide how your assets are distributed after your passing, and to whom. In a will, you can also appoint who is to be the legal guardian of any minor children. If you do not have a will, your assets are distributed, and guardians are appointed for any minor children, in accordance with British Columbia legislation.
A Power of Attorney is a document in which you appoint someone to make financial and legal decisions on your behalf. It is valid only while you are living and the power ends upon your death. A Power of Attorney does not include the power to make health and/or personal care decisions on someone’s behalf.
Disclaimer: Please note that this website provides general legal information only and nothing within it should be considered to be legal advice. You should consult a lawyer to obtain legal advice about your particular legal matter. No solicitor/client relationship is created by using this site.