Estate planning, wills & powers of attorney
As your financial base increases in value, the creation of both Wills and Powers of Attorney are recommended. Many people do not know or understand the difference between a Will and Powers of Attorney.
The important feature of the Power of Attorney (also known as a Living Will) is that it is only effective while the person is still alive. Upon death, all Powers of Attorney cease to be of effect and the Will becomes effective only at that time. While a person is alive a Will can be changed continuously but is of no effect until the death of the individual. The difference between a Power of Attorney for Property and Power of Attorney for Care are as follows:
A Power of Attorney for Property is a document appointing a person or persons to act on your behalf during a period of physical and/or mental incapacity with respect to your affairs as they relate to dealing with your finances, assets, properties etc.; it covers everything except for health care matters.
A Power of Attorney for Personal Care, also known as a Living Will, is a document appointing a person or persons to act on your behalf during a period of mental or physical incapacity with respect to matters concerning your medical health and related issues. In this document you can specify how you want to be treated if you are terminally ill without any hope of recovery. You may also include how the person appointed is to deal with your nutrition, clothing, shelter, depending on your situation.
Call Us at 1-1-877-421-5468 to Let Us Know How We Can Assist You
Our offices are conveniently located in Etobicoke, right off Highway 401 and Highway 409, with plentiful free parking. If you need help with any legal issue, please call us toll free at 1-1-877-421-5468 or e-mail us to schedule an appointment with Leonard A. Banks.