Wills and Powers of Attorney During COVID-19
Now more than ever, people need wills, powers of attorney, and assistance with estates or updates made to their estate documents. Most of these require signatures...so how can we do this when we’re practicing social distancing?
Thankfully, on April 7, 2020, an emergency order was made under the Emergency Management and Civil Protection Act to permit the virtual witnessing of wills and powers of attorney over audio-visual communication technology during Ontario’s COVID state of emergency.
We are pleased to announce that Cohen and Chasse is now working with clients to sign wills and powers of attorney virtually and without in-person meetings as well as through limited contact in-car signings. There are various options for preparing and executing remote Wills and remote Powers of Attorney at this time, which depend on your technology abilities and home set up, including video conferencing and even drive up wills and powers of attorney.
Drive-up signing of Wills and Powers of Attorney are also available.
To learn more about video conferencing, drive up wills and powers of attorney, and remote signing call us today at 416-259-1155 or email alison@cohenandchasse.com
Last Will and Testament
A last Will and testament allows you to name beneficiaries and set out how you wish for your assets to be distributed after you pass away. A Will also permits you to name an executor to be in charge of carrying out the wishes of your will. Having a Will is important to ensure your wishes are honoured. If you die without a Will your property will be divided among individuals according to a schedule set by the government. This may not follow your wishes and can increase the cost of administering your estate.
To make sure your wishes and desires are followed regarding your property on your death you should have a Will. Also, if you die without a will and have young children, part of your estate could go to your children and be held in trust until they reach the age of majority. This can cause problems, if you are married, for your spouse. Having a Will assures that your wishes are honoured and you will be protecting your spouse and children.
Powers of Attorney
Powers of Attorney allow you to name a person or people to assist you with respect to medical, personal care decisions and financial decisions if you are alive, but become unable to make decisions for yourself. If you become physically incapacitated or cognitively impaired, and cannot make either personal care or financial decisions on your own, the attorney you have appointed can make those decisions for you. If you do not have a power of attorney, family members may have to apply to be your guardian, which is a complex and expensive process. In other cases, the public trustee and guardian for the province of Ontario may be appointed to make those decisions for you.
Power of Attorney for Personal Care
This document will permit a person or persons to make medical or personal care decisions for you should you be unable to do so.
Power of Attorney for Property
This document will permit a person or persons to make financial and other decisions for you at any time after you sign the document. The selection of your attorney is very important as you must be able to trust them not to use the power of attorney improperly and to make the right decisions for you in your best interest.
When to review and update existing estate planning documents:
You should periodically review your estate planning documents to ensure that they remain applicable to you. For example:
You should consider updating your documents if something changes with the health or wellbeing of your Executor, Attorney or any of your beneficiaries.
You should consider reviewing your documents if there are changes to your marital status, or if you have children.
If your original estate planning documents cannot be located, or have been damaged, or destroyed it is very important that you do up new documents as soon as possible.
You may wish to update your documents to include children as Executors or Attorneys when they reach the age of majority.
To discuss doing up a new Last Will and Testament, Powers of Attorney, or whether you should update your existing estate planning documents, do not hesitate to contact us!