Half of Canadians have a will, while a third have a power of attorney for property and 8% of those surveyed by Scotiabank say they don’t know what POA is.
When his father Trevor died last year, Peter Brightly took advantage of his position as executor to re-write his dad’s will, reports the Daily Mail.
If clients plan for final expenses, it’ll make things easier on their children.
One of the fundamental goals clients have when they put wills in place is deciding the “who, what, when, where, why and how” of how to pass their property upon death.
Planning ahead for a client’s mental or physical incapacity isn’t always possible. Here’s how to protect yourself.
More than half of Canadians do not have wills, according to estimates. And of those that do, many may be outdated or improperly drafted.
When presented with a POA document, Harold Geller, a civil litigator with Ottawa-based Doucet McBride LLP, says advisors should focus on a few basics.
Help clients before it’s too late.
Most advisors know the importance of a PoA. So to avoid challenges, watch for these problems.
Connect to clients’ kids when helping with wealth transfers.