It’s difficult to consider your own mortality or that of a loved one. At some point, however, it is necessary to make arrangements that will protect those very loved ones and secure the savings and properties you’ve spent your entire career to build.
FP Legal will discuss with you the steps that are necessary in creating a will. We will assist in selecting the most suitable executor, ensuring your beneficiaries receive what you have granted them, and choosing capable guardians who will be responsible for raising minors.
Don’t let the fear of your own mortality prevent you from making the right decision. FP Legal offers professional advice and services that will make the process feel easy.
Probate is the legal process by which the testator’s property is sorted out upon their death. This is often a difficult time for family and loved ones and the court process can be trying. FP Legal has the experience in dealing with these court proceedings, which are in part carried out to validate the will and supplementary documents. It is crucial that these documents are accurate upon their presentation to the court, as you will be swearing to their legitimacy.
In addition, banks typically require confirmed probate documents before allowing any assets to be withdrawn from the deceased’s accounts. The same typically applies for any real estate attributed to the deceased.
Power of Attorney
It is important to understand the implications of power of attorney (POA), which refers to a request from you as the testator through signed documentation for one or more persons to act on your behalf in regards to business or personal affairs. This power is typically extended to your finances and property.
POA, as it pertains to property, is valuable if you are out of the country for an extended period of time or to ensure that whoever you have chosen has the right to access and handle your financial matters in your absence. The other practical function of POA is for personal care, sometimes referred to as a “living will.” This form of POA calls for the chosen individual to make decisions in regards to your health and personal well-being, including clarifying your wishes to medical and scientific professionals regarding measures taken to extend your life. POA is usually given to spouses or children.
FP Legal can assist in the preparation and execution of documents needed to assign POA and help you understand the legal implications associated with this power.
Signing a POA is important. Without a proper POA in place before your passing on, the government will then decide on who they feel is the best fit to make decisions concerning you and your estate; that can itself lead to a divisive situation for family and loved ones in the midst of your absence.