Life can change overnight - Make sure you have your Power of Attorney in order!

Often, we have conversations with clients about their overall estate plans. Not a comfortable conversation at times, but one that is an important part of a financial plan. Specific conversations regarding a potential Power of Attorney (POA) should be taken seriously and given plenty of thought while you have the time and capacity.

Taking it a step further, conversations with your POA about your wishes is very important. It is not uncommon for a POA to be sprung into action from a life changing event and not even have a copy of the legal documents they require to be able to exercise their duties. Further, they might not have the confidence to act on your behalf if they don’t feel as though they understand what you would have wanted to happen under certain situations. It is important to have the conversation.

Recently, we came across an article on CBC where two Canadian families share their stories and how their life changed with the challenges they faced becoming the POA for their loved ones.

Click Here to read the article.

Life can change overnight. 2 families share what people should know about power of attorney | CBC Radio