Prince George Citizen has recently published an article entitled, "The Cost of an Unprepared Estate" (Oct 17, 2016). Provided below is a brief summary to the article:
The Cost of an Unprepared Estate
British Columbia has more people turning 50 years old today than at any other time in history. A big lump of our population is heading toward retirement and with that massive migration to the senior years comes some sobering realities.
Fran was four years into retirement when suddenly without any warnings or prior symptoms he found himself alone when his left arm felt different, heavy. Frank was having a stroke and by the time the paramedics could administer treatment, significant damage had already occurred.
While we know tragedies occur, our inner defense mechanism tells us they only occur to others.
“Many couples are unaware that there are legal and financial decisions a spouse simply cannot make for their incapacitated partner without a Power of Attorney or Representation Agreement,” cautions Kevin Holte, director of community outreach for Canada Purple Shield.
"Getting our affairs in order may not be the most exciting item on our weekly to-do list. But it is important. There are far too many of us tossing the dice with an older, unreviewed will, no power of attorney in place, no cremation or burial instructions and poor estate advice. And who suffers? Our families."
For more information on the cost of an unprepared estate and how it affects not only you but your family members as well, continue reading “The Cost of an Unprepared Estate” by Prince George Citizen.