When a person receives the diagnosis of dementia, his or her world changes. There are so many things to consider, especially when the diagnosis is made early on. In British Columbia, it is important for people who have dementia to take action to protect themselves financially and that includes having a power of attorney in place in estate plans.
Unmarried seniors who have no children or extended family members may have an issue when it comes to their estates. If these British Columbia residents don't have family, who then will look after their estate administration when it's a job usually relegated to adult children or some other family member? Naming a corporate executor is a viable option in these cases.
The elderly are one of the most vulnerable groups in society. It is especially devastating when the individuals who are taking advantage of seniors are the very people seniors most trust. A power of attorney is a very powerful document in British Columbia that grants a great amount of authority to an individual or individuals who are able to make decisions on behalf of the senior who gave them that power.