Willmakers beware. Say you’ve given a daughter a legal-form power of attorney. They think you’re declining physically and mentally after the death of your much-loved spouse. What do you think they’d do? Move you up the list for a space in a facility? Think that an easy-to-manage one-bedroom unit, after you’ve lived your life in a house, would be in your best interests? Take you to the bank for a bank PoA to make things easier to manage? Let them cash in your investments to support you? These are, of course, trick questions, because it all depends. Listen to this cautionary interview with Kerry Cathers about PoA pitfalls. Although a sad tale, it has a happier ending and practical recommendations. It could be the most worthwhile 22 minutes you spend this week.
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Welcome to the latest issue of To Heir Is Human, the newsletter highlighting tips from my book, as well as new developments in preparing for and managing estates. BIG NEWS for those who love libraries (and – let’s face it – they’re air-conditioned!), or want to see the book before you die (oops) buy, it’s now in the Toronto Public Library (14 copies and 30 holds!) – reserve a copy now. For willmakers we have “KAPOW! Or KAPOA?” about the risks of naming powers of attorney with tips to help you manage. For executors, we have “Two for one:” what to think about if you own property in more than one jurisdiction (the proverbial family cottage - also known as heaven or hell depending on your family). For heirs and beneficiaries, we have “Widows and orphans” – many Canadians new to this country may follow traditional habits and many may have property “back home.” Wherever you are or are from, traditions, religion, and other cultural factors may impede discussions of PoAs and wills or, following a death, result in actions incompatible with Canadian law, in both cases with possible unfortunate outcomes. We conclude with the usual Things that matter, all about some crazy people's efforts to improve the tortuous twists and turns of estate management and the related administration. |


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