Wills and Estates

wills-and-estatesHaving your estate needs planned and a will drafted is the best way of ensuring that your final wishes are respected. You Will directs your Executor as to how to devise and gift your estate to your heirs. It takes effect only when you die.

Therefore, part of the life planning process is also to have Powers of Attorneys or Representation Agreements in place which will grant your Attorney or Representative certain powers while you are alive and unable to make decisions or act for yourself. You may be travelling or you may be in the hospital and need someone to manage your personal affairs.

A Representation Agreement is an enhanced Power of Attorney which allows your Representative to make minor  or routine health care decisions on your behalf in addition to managing your finances and day-to-day affairs.

In order to make a Will, Power of Attorney or a Representation Agreement, the testator or donor must have the mental capacity to do so.  If the donor suffers from mental infirmity when a document is signed, it is not a valid.  Therefore, having these documents drafted when you are in good health is just ensuring that your affairs can be managed when you need them to be.