What is a Power of Attorney? A Power of Attorney is a legal document in which you assign one or more individuals, known as an “attorney”, the authority to act on your behalf regarding property, legal or financial matters. The “attorney” is typically a friend or family member. It’s the person you appoint to act in your place. You can give this person(s) the authority to act on all your property, legal and financial matters or, it can be limited to specific functions with a narrow focus.
Who can give power of attorney? Anyone who is 18 or over, and can appreciate the nature and extent of their property and affairs, can understand to whom they are giving the authority set out in the power of attorney, and can also appreciate the extent of that authority can give power of attorney. The person giving power of attorney has to be awake, (not unconscious).
Who can I appoint in my power of attorney? Anyone who is of sound mind can act as a power of attorney. You should of course only choose someone who will act in your best interest for your property and affairs. You can also choose to have more than one person for your power of attorney.
Is a Will and a Power of Attorney the same thing? No. A Will comes into effect once someone has passed away. A Power of Attorney is in effect while a person is alive.
Why should I have a Power of Attorney? In the event that you lose mobility or mental capacity, a Power of Attorney gives you control over who will manage your property and affairs. It is also simpler and affordable compared to alternatives.
What if I change my mind about who I wish to appoint in my power of attorney? In the case of a specific power of attorney, the completion of the specific task or the passing of the date specified in the power of attorney results in the cancellation of the power of attorney.
Can a general or specific power of attorney be revoked? A specific or general power of attorney can be terminated by any one of the following:
Mental incapacity of the person granting the power of attorney, unless the document specifically states otherwise.
Incapacity of the person acting as power of attorney.
Death or bankruptcy of either parties.
Revoking the power of attorney by giving notice to the person named as power of attorney of the revocation.
(Our office does not generally handle revocations of powers of attorney)
Do I need a lawyer to administer an estate? It is not necessary to hire a lawyer to assist in the administration of the estate. Certain probate documents need to be declared before a Notary or Commissioner for Oaths. Some financial institutions require notarial copies of the Will or the Grant of Probate. Notary services can be obtained on a fee-for-service basis.
What are the responsibilities of an Executor? It is the Executor's job (Executrix if female) to locate the original signed Will and apply to the Court of Queen's Bench to have the Will probated. The Court reviews the Request for Probate and accompanying documents. This includes a detailed inventory of assets owned by the deceased at the date of death. If the Court is satisfied that the Will is valid, the Court will issue a Grant of Probate. The Grant of Probate authorized the Executor to settle the estate. The Executor also has the responsibility of verifying and paying any outstanding debts and financial obligations of the deceased. Debts must be paid before any bequests are given out. Collecting any debts owed to the deceased is also a responsibility of the Executors. Those payments become part of the residue of the estate. The Executor must ensure that final tax returns are filed for the deceased and for the estate. When the assets have been identified and debts and fees have been paid, it is the Executor's responsibility to pay out the estate in accordance with the deceased's wishes as set out in the Will.
Who pays the bills of the deceased? It is the Executor's responsibility to pay the deceased's debts. The Executor also has the authority, on behalf of the estate, to incur funeral expenses.
Is probate always necessary? No, it is not always necessary to apply for probate. The decision to apply for probate of a Will depends on a number of factors including the nature of the assets owned by the deceased and the size of the estate.
What if there is no Will? A person who dies without a valid Will is considered to have died intestate. In that case, anyone with an interest in the estate may apply to the Court for permission to administer the deceased's affairs. Without the guidance of a Will, the Administer of an estate has little discretion in the distribution of the assets. In Manitoba, The Intestate Succession Act governs the distribution of the estate of a person who dies intestate.
Note: Each of our documents is written for a single individual to sign. None of our documentation is 'joint'. This avoids circumstances where one has predeceased another or, where one is unwilling or unable to do what had been previously contemplated.
Frequently Asked Questions (FAQ's):
Do I need a Will? No. True, you’ll no longer be here. But, if you don’t have a Will, you could be leaving a mess behind for your relatives to deal with. Without a Will, you possibly leave it up to the courts to decide how your estate is to be distributed, or you can possibly forfeit your assets to the Provincial Government. Why leave things to chance when you can have your own Will.
What is a Will? A Will (or Last Will and Testament) is a legal document, prepared during your lifetime,that describes how your money, property and other assets are to be distributed when you die. The Will can also include provisions for setting up trusts for children and the custody or guardianship of those children, (who you wish to take care of them). A Will can help ensure your assets are protected and your final wishes are carried out. It also names who is responsible for carrying out your wishes. This person is known as an executor.
What is intestate? A person who dies without leaving a Will is said to have died intestate. Dying intestate leaves your loved ones with far more work to do at a time when they will be bereaved, and it’s possible that your possessions may not go to who you want them to.
Why do I need a Will? Your Will is your voice after you’re gone. The clearer your instructions, the better it is for the people you leave behind. A well-written and current Will helps to ensure (amongst other things): the right people are provided for when you die; and your assets will be distributed according to your wishes.
If you do not have a Will and you pass away: This can mean your assets might not be distributed as you want, to the people that you would have otherwise preferred it be distributed to, via the laws of Intestate Succession. Someone that you would have otherwise preferred not to, may end up Administering your estate and being your final voice. Your possessions may go unclaimed and could go to the Government. This could happen if you do not have next of kin or, if your next of kin are not notified of your death or, have predeceased you.
Legal services provided by the: Kyle Soble law corporation. Lawyer/barrister & solicitor, Notary Public
Wills, Powers of Attorney,
Winnipeg Notary Public, etc
Winnipeg, Manitoba & surrounding areas
kyle j soble
Toll Free: 844-85-LEGAL (53427)
Contact us today at firstname.lastname@example.org for all your Will, Power of Attorney and/or Healthcare Directive (Living Will) needs
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