Personal Planning Peace of Mind
Our world has become so much more complicated. We can no longer rely on simply telling our children or spouse what to do in the event of our demise. We are all encouraged to have “documents” to support all our plans.
Where to Begin
There are many different types of plans:
- A finance plan for you for the next decades
- The fund for your children’s education
- A plan for your health care
- The person(s) to name in your Power of Attorney document and Will
- Who will look after your estate
- What to do about the house, condo, or property
Those are all very personal decisions and they can be complicated. It is best to break the plan into steps.
The First Step
Do a quick inventory of where you are now. Consider the following questions:
- Do you have a Will?
- What assets do you have? Do you need to protect them?
- For whom do you currently provide? People, pets, charities?
- How long will your support continue?
- Have you granted a Power of Attorney to anyone?
- Have you spoken to your doctor about your care if you become incapacitated?
- Who will benefit from your plan?
If you want to do some research while you are making your plan, here are links to some resources to assist you. They are applicable to a Will or personal care plan in British Columbia:
Having the conversation with yourself about what you want in future will help you decide how to accomplish your goals. You may need to consult an accountant, your local BC Notary, and your family doctor to get advice about the direction you should go.
Be sure your plans become legal, binding documents. It is strongly recommended that you have a BC Notary or lawyer draft the documents you require. The representatives you choose must have legal authority to act on your behalf.
Easy as 1,2,3
- Take the time to make your plans.
- Imagine how they will work for you and your family.
- Have the appropriate legal documents prepared.
Your family will thank you and you will have peace of mind.
Rhoda Whitherly is the former President of The Society of Notaries Public of BC
Posted in Personal Planning