Wills and Power of Attorney
The creation of a will is something that a person or married couple can consider at any age or stage in life. Whether you are newly married, newly retired, or at any other point in your life, establishing a will or revisiting your existing will is an advisable decision. Powers of attorney are also estate planning documents that can serve you and your family well.
At the Toronto law firm of Clark Farb Fiksel LLP, our Toronto wills and power of attorney lawyers provide comprehensive guidance to clients who need assistance drafting wills and powers of attorney.
Skilled Guidance for Drafting Wills
A Toronto wills lawyer from our law firm can talk to you about your options for establishing your will and other estate planning documents. In a will, you state your wishes regarding the division of your property upon your death.
When you provide directives for property distribution, you can feel confident knowing that your wishes will be followed after your death. This planning process can prevent your family members and heirs from encountering problems as well as protect intergenerational assets.
The Two Types of Powers of Attorney
There are two types of powers of attorney: continuing power of attorney for property and power of attorney for health care. You can choose the same person to serve in the role of both types. However, you do not have to, and many people choose separate individuals for:
- Continuing power of attorney for property: When you name a person to serve as power of attorney for property, you entrust that person to make financial decisions on your behalf. These decisions can involve real estate, bank accounts, personal property, cars and more. If a person becomes unable to manage his or her property due to an illness, disability or other problem, the power of attorney is authorized to make decisions about their financial affairs.
- Power of attorney for health care: When you name a person to serve as power of attorney for health care, you entrust that person to make medical and healthcare decisions on your behalf. These decisions can involve medical treatment, surgeries and efforts to keep you on life support.
Powers of attorney can be helpful for people who can no longer make decisions. For example, a stroke, a car accident, an illness, a disability, dementia, Alzheimer’s and other circumstances can all result in a person needing a trusted friend or family member as power of attorney.
Contact Clark Farb Fiksel LLP for assistance establishing a will or power of attorney. We accept credit cards and are conveniently located in the Yorkville area of Toronto. Call 888-664-3779 or contact us online.