The #1 Way To Get Your Wills Done – Fast!

06/08/2010 by Michele R.J. Allinotte

Life is busy and getting your affairs in order by completing Wills, Powers of Attorney, and other estate planning documents (if necessary) can be one of those items on the eternal “to do” list that often never gets done.

But I have the secret to getting your Will done – fast!

What’s my secret?

Plan a vacation.

Nothing makes people more inclined to get things in order than a far away vacation looming in the not so distant future.

Summer time brings endless opportunities for travel – camping, family visits, dream vacations, second honeymoons – many vacations will be had in the next few months.

So we prepare and make lists and get things done and then worry that we left the stove on or the garage door open even after we make our departure.

But what about it something happens to you while you are away? What would happen to your children, to your spouse, to your assets?

Statistics on who does and does not have a Will are hard to come by, but it is estimated that less than half of all adults have a Will or any estate planning documents.

I often get calls from people who want to come in and get their documents completed before their vacation. That is great and I’m glad to help, but if your vacation starts in a couple of days, it may be too late.

So, in addition to getting your passport renewed or buying a new suitcase, here are a couple of other things you need to do before going on vacation this summer:

  1. Complete your Will. This is essential for parents, as a Will is the only way in Ontario you can legally name who will care for your children in the event you and their other parent pass away;
  2. Complete your Powers of Attorney for Property and for Personal Care so your family knows who is to make decisions if you can’t make them yourself; and,
  3. Make sure that you have the proper financial support in place so that your family and/or your business will be taken care of if something happens to you. Most of the time this comes in the form of life insurance, but this may not be the case, depending on your personal situation.

Get all these things done BEFORE heading out on your vacation so you can have peace of mind that, no matter what happens, things are taken care of.

And believe me, you actually DO feel better once you get this planning done. I know because I ask my clients after they sign their documents (which hopefully is not on the same day they leave for a vacation – although that has happened!).

I must credit a colleague of mine for the inspiration for this article. The original article by Michael Licterman appears here http://www.lichtermanlaw.com/index.php/vacation-estate-planning/.

Share


No Comments

No comments yet.

Leave a comment