Garton & Harris

December 2016 Archives

Wills should include all assets, including digital ones

Technology reaches into every person's life, both the young and the old. Computers and cellphones are no longer the exclusive domain of the youthful or wealthy. As a result, every person creates a digital footprint, as it were, as they move through life. The data generated by individuals is sometimes referred to as "digital assets." Like any other assets, digital assets need to be dealt with in wills and other estate planning documents in British Columbia.

Wills of particular importance to workers in dangerous jobs

There is a tendency to think that only the oldest among us need to worry about making end-of-life plans. Some more enlightened individuals may realize that arranging one's affairs is important for anyone with children, or any kind of significant financial holdings or other assets. The truth is, however, wills and other advanced planning directives are beneficial to anyone over 18 years of age. In particular, men and women working in hazardous industries should be prepared for any eventuality.

Power of attorney should be given carefully, and then monitored

As men and women advance further into their senior years, it can become increasingly difficult for many to continue managing their own affairs. One possible solution for a senior is to grant power of attorney to a trusted friend or loved one who can then make complicated decisions on his or her behalf. Making that choice should be done with care, however, and it is okay to keep tabs on how matters progress down the road.

Careful consideration necessary before giving power of attorney

As more and more British Columbia men and women are living longer, they are increasingly faced with making hard choices about how they will be cared for as they age. To willingly give up the freedom to make decisions about one's own life is a difficult choice to make. It is important to look ahead, and try and see the bigger picture in order to comfortably hand that responsibility to another person. And while granting power of attorney may provide comfort in the future, it can also go very badly if the right person is not chosen.

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