– by Laurie Salvador, Salvador, Davis & Co. –
Relationships come in all shapes and sizes: common law, same sex, blended families and budding relationships. Regardless of the style of relationship, it is important to consider how your partner would manage if you were unexpectedly incapacitated, or worse, if you actually died. Does your will reflect what you would want to give to your loved ones? Do you even have a will?
Just as important, and perhaps more important, is a Power of Attorney. A person is just as likely to have a serious accident or event that renders them incapable, and then it’s too late. If you become incapacitated without a Power of Attorney in place, a family member will have to apply to court for a committeeship order to take care of your affairs, which can take months and cost several thousand dollars.
Consider the case of a young man who was involved in an industrial accident resulting in brain damage; his wife was not able to pay bills or access his income to support herself and their two infant children. Without a Power of Attorney, she could not even talk to his employer about disability benefits.
As notaries, we see this time and again: a stroke or aneurysm puts someone in hospital, leaving family or friends struggling to look after finances and medical decisions without the paperwork in place to give them authority to do so. You don’t want to be the person who never gets around to having documents made to protect your family from a financial disaster.
The notaries at Salvador, Davis & Co. are well trained in the area of personal planning documents such as Wills, Powers of Attorney, Health Care Directives and Representation Agreements. We encourage people to consider making a plan. If cost is a factor, the VIHA website has some very basic forms, although we frequently find people have attempted to use these basic forms and are not able to complete them due to lack of knowledge (http://www.viha.ca/advance_care_planning/plan.htm).
If your situation is complicated, or non-traditional, or you just want to make sure it’s done correctly, we urge you to consult one of our professional notaries to protect what you own and those you love.
Partner, Lisa Ehrlich, oversees our real estate department. She will skillfully handle your property conveyance whether you are the buyer, seller, or the lender. Lisa Ehrlich earned the coveted Dr. Hoeter award for the top marks in her class when she graduated in 2000. With 14 years of experience as a notary, she is your go-to person for all real estate matters.
For more information visit www.salvador-davis.com or call 250.656.3951.
