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arcus-legal-blog-arcus-legal's-estate-planning-lawyers-clarify-what-a-power-of-attorney-means-in-estate-planning-part-4

The Enduring Power of Attorney (“POA”) applies during your lifetime and ends on your death. The person you appoint in the POA is called the Attorney. The POA can be used by the Attorney when you are unable or unavailable to act for yourself in a financial or legal capacity. Your Attorney may act in situations if you become incapable of making financial and legal decisions. Your Attorney may also be instructed by you to act while you are still competent, but are physically unable to complete certain tasks. Your POA can be as broad or as specific as your needs require and you’ll review those options with your lawyer.… [Read more]

arcus-legal-blog-arcus-legal's-estate-planning-lawyers-look-at-the importance-of-having-a-last-will-and-testament-in-estate-planning-part-3

Do I need a Last Will and Testament?

YES! Every person should have a Last Will and Testament (“Will”). No matter how many assets you have or what your net worth is, every person should have a Will because your Will appoints a person to wrap up your affairs. Even if there are few assets to distribute, you will save your loved ones the cost and time of applying to the court to be appointed as your Personal Representative.

A Will takes effect on death, which means you can always change your Will during your life, so long as you are competent.… [Read more]

arcus-legal-blog-arcus-legal's-estate-planning-lawyers-have-created-a-glossary-of-legal-terms-and-phrases-to-make-them-easier-to-understand-in-estate-planning-part-2

We know it can sometimes feel like a foreign language when addressing legal matters. Below are terms and acronyms commonly used in estate planning:

  • Will: Last Will and Testament.
  • Personal Representative: The person named in a Will to act on your behalf; also can be called an “Estate Trustee”.
  • Executor and Executrix: The older gendered terms for the person named in a Will to act on your behalf.
  • POA: Short for Power of Attorney.
  • Donor: In your own POA you are a “Donor” because you are giving the authority to act.
  • Attorney: The person named in a POA to act on your behalf.
[Read more]
arcus-legal-blog-arcus-legal's-estate-planning-lawyers-explain-what-estate-planning-is-in-estate-planning-part-1

The term “estate planning” encompasses more than simply writing a Last Will and Testament. A Will is an important aspect of estate planning, but it is only one piece of the puzzle. The act of estate planning is ensuring your affairs are as organized as possible so that on your incapacity or death, your loved ones will be set up as best as possible to tackle the situation.

Depending on how complex your financial and professional situation is, you may require more than just your lawyer. Your accountant, insurance advisor, and financial advisor will also be involved. As tax laws become more confusing and complex, estate planning also becomes more complex.… [Read more]

From the front page of today’s Chronicle Herald. Erin O’Brien Edmonds, QC, TEP (eedmonds@arcuslegal.ca) and Dianna Burns (dburns@arcuslegal.ca) are here to meet your real estate and estate planning needs.

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