What is a Will? Why should I have a Will?
- You decide who gets your assets and in what proportion (subject to legal obligations to spouses and dependents), rather than the law directing who receives your assets.
- Control who manages your affairs for you when you die.
- Save time, money, and stress for your loved ones.
- Lower the risk of family disputes.
- Ensure your children, dependents, and/or pets are taken care of.
- Support your favourite charitable causes.
- Gain peace of mind.
What is a Living Will? Why should I have a Living Will?
A living will, also known as a ‘healthcare directive,’ is a document that outlines your preferences for healthcare decisions in case you cannot make them yourself.
When it comes to healthcare choices, you have three options:
- No Action: If you take no action, the law defines your “nearest relative” as the person who will have the legal authority to access your health records and make healthcare decisions on your behalf when you’re unable to do so.
- Proxy Appointment: You can choose to sign a Proxy appointment, naming one or more individuals to make healthcare decisions on your behalf in situations where you lack capacity.
- Healthcare Directive: Another option is to sign a Healthcare Directive, which acts as your voice when you cannot speak for yourself. To be legally binding, a Healthcare Directive must be specific, referring to particular forms of treatment for defined circumstances.
These choices allow you to plan ahead and ensure that your healthcare decisions align with your wishes, even in situations where you may not be able to communicate them directly.
Disclaimer: This Blog is intended to provide readers with general information. Each client’s circumstances and legal solutions might vary. For further details, please reach out to us to learn more.