You probably already know that it is important to have a Will. But that is just one aspect of estate planning. You also need to consider two other scenarios:
- You are unable to make financial decisions because you are ill or injured
- You are unable to make health care decisions because you are ill or injured
“Everyone needs to plan for not only their death but also the unforeseen and unexpected events that come up in everyone’s life,” explains Shaun Hennessy, a lawyer in the Edmonton law offices of Coley Hennessy Cassis.
“Failing to plan means your loved ones could end up in costly estate litigation that would never happen if you had taken the time to set up a proper Will, Enduring Powers of Attorney (gives a person responsibility to make decisions about your financial affairs when you are incapacitated) and Personal Directives (gives a person responsibility to make decisions about your health when you are incapacitated by accident or illness).”