The legacy of love blog

6 things to consider when granting a Power of Attorney

power of attorney Mar 20, 2017

Power of attorney is an arrangement that allows a person you trust to handle certain financial responsibilities for you in your absence. It is typically invoked when you are absent or unavailable for a certain period of time (e.g. taking an extended vacation, going overseas for military duty). The person you appoint can pay your bills, sell your house for you, and complete other important financial transactions.

Granting someone else power of attorney is one of those major life decisions that...

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What you need to know about Green Sleeves

In Alberta, Green Sleeves are often referred to as ‘medical passports.’ They are green plastic pockets that keep your advance care planning documents in a single, easily accessed place. In an emergency situation, Alberta medical providers can review the contents and know what your wishes are. In Alberta most people keep these green plastic envelopes on the refrigerator door where emergency personnel can grab these documents if you can not express your wishes.

Green Sleeves contain...

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Ensuring your digital legacy

estate planning Feb 21, 2017

When we start planning for what will happen to our property after we’re gone, the first things that come to mind are real estate holdings, cash assets, and treasured family heirlooms. Even though we’re deep into the digital age, we don’t normally think about what will happen to our digital estate, which may include:

  • Files stored on your computer
  • Email accounts
  • Social media accounts (includes Facebook, Twitter, LinkedIn, Instagram, and Tumblr)
  • iTunes
  • Online banking logins
  • ...
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6 reasons you might need a Codicil

codicil will Feb 10, 2017

The purpose of a will is to indicate how you want your estate to be distributed after you pass away. But once it’s made, it should be changed as your life changes. Too many people create a will, put it away, and forget about it, never realizing that by the time it is read, it may no longer adequately address new or altered relationships and circumstances.

Fortunately, it is a relatively simple matter to change specific sections of your will without creating an entirely new one. You...

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4 questions to ask before hiring an Estate Lawyer

estate lawyer Jan 26, 2017

There are some important aspects you should know before hiring an estate lawyer. Asking the right questions could make a difference between solving or not your legal problem.

The truth is you’re most likely looking for more than just a professional attorney-client relationship. Trust is more important and it has to be earned. Your lawyer should be a person with great people skills, so you can talk freely – especially since the topic of the discussion will be a little...

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Understanding the different types of Power of Attorney

power of attorney Jan 20, 2017

A Power of Attorney (POA) authorizes another person to handle your financial, legal, and / or personal matters. In Alberta, there are different types of POA, each one intended to fulfill a specific need. For example, you may want someone to temporarily take care of your affairs while you are deployed with the Canadian military or if you head south for the winter. Alternatively, you might want to appoint someone to make decisions on your behalf if you become incapacitated. Some powers of...

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Meeting your Estate Lawyer for the first time? Here’s what to expect.

There are tons of movies that depict lawyers as people you only call when you’re in big trouble. Of course, reality tends to be completely different. So, in case you’re meeting your estate lawyer for the first time, there are some situations you might expect.

Additionally, you should know you have no reason to be nervous or scared. Lawyers generally have really good people skills.

That means a professional estate lawyer will try to offer you an excellent...

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Remember, Estate Planning isn’t just for old people

estate planning will Jan 10, 2017

A near-universal assumption seems to be that estate planning is only necessary if you’re old and / or wealthy.  You’re young, still working for a living, and have a long way to go before you need to think about the distribution of your assets, right?

Hopefully that will turn out to be the case, but the reality is that we can’t see the future. Something could happen tomorrow that hampers our ability to make medical decisions or even manage our assets. Younger people also...

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What your will can and cannot do, Part 2: The Limitations

will Dec 16, 2016

Although your will is an important estate planning document, there are certain tasks and directives that it cannot accomplish. Understanding these limitations is essential to determining whether you require additional estate plans to ensure that your assets—as well as those you love—are protected in the future.

You cannot create a Personal Directive

A Personal Directive, otherwise known as a Living Will, is a legal document that provides a designated agent with the authority to...

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What your Will can and cannot do, Part 1: The capabilities

will Dec 05, 2016

An up-to-date will is a key part of any effective estate plan. It accomplishes several important goals, foremost of which is allowing you to specify how your estate will be distributed after you pass away and naming a guardian for any minor children who survive you. A will also prevents the time and expense of litigating your estate, protecting the inheritances of your loved ones and preventing a dispute from fracturing the family.

You can choose your Beneficiaries

A properly drawn-up will...

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