Powers of attorney, wills and more: Preparing for the unexpected

Allowing people you trust to do certain things for you

Do you have an injury or physical deterioration that makes it more difficult for you to get around? Are you travelling abroad for an extended period, which would prevent you from carrying out potentially necessary banking transactions? Do you feel like you need help to manage your finances? Under these circumstances, you could get help by signing a power of attorney.

1. It’s an agreement between you and the person you designate as your mandatary authorizing them to perform certain acts on your behalf relating to the administration of your property.
2. A power of attorney can be for a set period of time or for an indefinite period.
3. For the power of attorney to be valid, you must be sound of mind and capable of making decisions for yourself when you sign it.
4. A power of attorney is a written document, and you can prepare it alone or with the help of a notary or lawyer.
5. It doesn’t make you any less liable for decisions made on your behalf and your mandatary doesn’t become the owner of your assets or possessions. You’ll need to monitor the transactions carried out by your mandatary to ensure that they meet your needs and expectations.
6. A power of attorney can be cancelled at any time.
7. A power of attorney can end when a protection mandate is homologated (probated by a court).

Learn more about power of attorney External link.

Planning for incapacity

Accidents and health issues can happen to anyone. To prevent unfortunate consequences that could result from a loss of autonomy or an incapacity to make decisions for yourself, a protection mandate can be a valuable tool.

1. Formerly known as a mandate in case of incapacity, a protection mandate is a document that lets you choose who will make decisions for you if you’re no longer able to do so.
2. You state certain guidelines for enforcing your wishes, particularly with regard to your well-being and assets, and you can entrust different mandataries to deal with these two types of issues if you wish.
3. Your protection mandate can be notarized or made before witnesses. You can change your protection mandate later on, or you can make a completely new one, as long as you are not incapacitated.
4. Your protection mandate only takes effect when you become incapacitated and a court homologates your mandate, making it official.

While a notarized protection mandate may include certain instructions about end-of-life care, you may also want to consider drawing up advance medical directives External link.. They let you choose now what healthcare treatments you might want to accept or refuse in the future. They’re also easier for healthcare professionals to access than a protection mandate.

The wishes expressed in a protection mandate are not considered advance medical directives under the Act Respecting End-of-Life Care. In a situation where both apply, your advance medical directives will take precedence over your protection mandate.

You can ask your notary to draft your directives at the same time as your will and protection mandate, or you can use the form on the Quebec government’s website.

For more information, visit the Quebec government website External link. and the Chambre des notaires du Québec website External link..

Learn more about protection mandates External link.

Taking stock

When you prepare a personal inventory of assets and important documents, you list in a single document all the information that your loved ones would need if they had to manage your assets, in the event that you were no longer able to do so yourself. The information in the inventory may also be required to complete your estate planning.

1. The asset inventory is an essential document that simplifies the way you provide important personal information to your loved ones, whether it’s during your lifetime or after your death.
2. It’s ideal for estate planning, and is also very helpful for any attorney or mandatary, and it’s essential for your estate liquidator.
3. This document generally includes your personal information and information about your advisors, legal documents, home, real estate and other assets.
4. You can download and complete our Personal Inventory of Assets form in PDF.

Ensuring that your wishes are honoured

Wills are not the most exciting topic. That’s why most people prefer to put off this task, or never think about it at all. If you don’t already have a will, you should know that by preparing one, you can make sure your last wishes about the distribution of your assets and the appointment of your heirs are followed. By arranging for more organized estate planning, you could reduce your heirs’ taxes and avoid conflicts.

1. In addition to distributing your assets after your death, a will allows you to appoint your estate liquidator and specify their powers, state your preferences for your funeral, identify the person you wish to be appointed legal guardian of your minor children, and so on.
2. You can choose a notarial, holographic (handwritten) or witnessed will.
3. If you don’t have a will, the Civil Code of Quebec will designate your heirs and how your assets will be distributed.
4. If you and your partner are not married, in a civil union or parental union, your partner is not considered an heir under Quebec law. It is therefore crucial that you make a will and designate them as your heir if you wish to bequeath all or part of your assets to them.

Get more information about wills External link.