Enduring Power of Attorney

Act of Alberta, you can appoint an individual or Trust Company (the “Attorney”) to act in connection with your financial affairs.
Without an Enduring Power of Attorney, a relative or friend would have to make a Court Application to be appointed your Trustee if you are incapacitated. This can be a costly and time-consuming process.
A Power of Attorney can take effect at two points in time:
· It can take effect immediately; or
· It can take effect on the happening of a subsequent event, such as mental incapacity (a springing power of attorney).

Planning for Incapacity
What would happen if you were incapacitated from an accident or sickness?
Enduring Powers of Attorney provide for the ongoing financial maintenance and care of yourself and your loved ones should you become incapacitated.

These Powers of Attorney are often referred to as Enduring Powers Attorney because they endure, or continue on after incapacity.
It is important to note that to make a valid Enduring Power of Attorney you must:
· Be mentally competent at the time it is prepared and signed; and
· Be able to understand the nature and effect of it.

A Personal Directive ensures that your personal care is consistent with your values and beliefs in the event that you are unable to make these decisions on your own due to mental incapacity.

Without these documents in place prior to incapacity, your financial affairs and personal care might well be governed and monitored by the Courts.

Are you willing to risk the impersonal and expensive results that could occur if you failed to have these two simple documents in place?

Personal Directive

A Personal Directive ensures that your personal care is consistent with your values and beliefs in the event that you are unable to make these decisions on your own due to mental incapacity. Without these documents in place prior to incapacity, your financial affairs and personal care might well be governed and monitored by the Courts. Are you willing to risk the impersonal and expensive results that could occur if you failed to have these two simple documents in place?

What is a personal directive? A personal directive lets your loved ones know your wishes about medical treatment or where you would like to live in case you lose the ability to make choices on your own due to injury or illness (e.g., Alzheimer's disease, coma). A personal directive also lets you choose another person, an agent, to act on your behalf and make decisions for you when you cannot make them yourself.

Why make a personal directive?

Have you ever thought about what would happen if you were unable to make choices for yourself? Could another person make decisions for you? Under most circumstances, not even your closest family members have the right to make decisions on your behalf without a court order.

Currently, the Powers of Attorney Act allows you to give another person authority to make financial decisions for you. But financial matters are only part of the many decisions you make every day. If something happens to you so that you are no longer able to make such decisions, who will have the authority to make them for you and what kind of decisions will they make?
A personal directive allows adult Albertans to name one or more people to make decisions for them, and describe the areas in which they want decisions made for them. The need for a personal directive may be short-term, such as when a serious illness leaves an individual unable to make decisions for a few days. In the case of brain injury or a incapacitating illness a personal directive may be required for the remaining length of a person's lifetime.

Under the Power of Attorney’s Act of Alberta, you can appoint an individual or Trust Company (the “Attorney”) to act in connection with your financial affairs. Currently, the Powers of Attorney Act allows you to give another person authority to make financial decisions for you. But financial matters are only part of the many decisions you make every day.
If something happens to you so that you are no longer able to make such decisions, who will have the authority to make them for you and what kind of decisions will they make? A personal directive allows adult Albertans to name one or more people to make decisions for them and describe the areas in which they want decisions made for them.

A Power of Attorney can take effect at two points in time:
· It can take effect immediately; or
· It can take effect on the happening of a subsequent event, such as mental incapacity (a springing power of attorney).

Wills

Your Will
A Will is a legally binding document that expresses your last wishes. It comes into effect at the time of your death and allows you to deal with such things as the disposition of your assets and the care of your children after your death. Everyone should have a Will in place and having access to legal counsel while preparing your Will ensures that all issues relating to your personal situation are considered and dealt with properly. These terms should be considered when preparing a Will:

Executor: An Executor and an alternate should be chosen who will carry out your wishes. Specific Gifts: You can give certain items or specific amounts of money to certain individuals. You may include instructions relating to the disposition of certain items such as your business or other personal property, including keepsakes, jewellery or artwork. You can also designate or re-designate insurance policies, registered retirement savings plans and registered income funds, depending on the legislation governing those plans. Residue: The funds and assets remaining after payment of debts and specific gifts can be divided in accordance with your wishes.

Guardians: If you have minor children, you should appoint a guardian of these children. You can also set up trusts to provide for their needs until adulthood, including support and education.
It is important to address certain circumstances in your Will such as a common law relationship, second marriage or dependent child. As well, your Will should be reviewed regularly. In the following circumstances, you may wish to revise an old Will or write a new one: Change in marital status (remarriage revokes a Will, while divorce does not); Birth or death in your family; Either you or your Executor moving out of the Province; Change in your wishes.

It is important to note that making any physical changes to your Wills, such as crossing out or adding words, may invalidate provisions of your Will. It should also be noted that the use of “Will Kits” may also invalidate the provisions of your Will. Having a new Will prepared, or a separate Codicil for minor changes, is essential.

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