Wills & Estates

Protect Yourself and Your Estate

Assign a Personal Representative

Meet Jill Chambers, Founder and President, sharing information about how to select an executor for your estate and Power of Attorney(s) (POA) for your property and medical care.

Selecting an Executor

Power of Attorney (POA)

Thanks to Jill, I feel confident that when the time comes my family will have all the information and documents they need to execute my wishes. I know Financial Concierge™ will be there for my family and that gives me great comfort.
Maureen M.
Calgary, AB

Why is having a Will and POA important?

These documents put you in control of your future. Your POA will honour your healthcare and lifestyle choices - your Executor will manage your estate as directed

Did you know that 50% of Canadians do not have a Will (or valid Will) and POA documents? Why put at risk the nest egg you took a lifetime to build? Here’s just a handful of the many reasons why getting your affairs in order is a top priority.

  • Should you lose mental capacity you can no longer legally designate a POA, leaving you to rely on the system to make important life changing decisions on your behalf
  • Dying without a valid Will delays the overall process of distributing your assets to your loved ones, leaving them without the financial support they may need
  • Unless someone applies to the court to take on the administration of your estate, your affairs may by managed by the Office of the Public Guardian and Trustee and your assets will be distributed according to the Wills and Successions Act
  • Probate fees and income taxes could be minimized with proper estate planning
How we can help

Estate Administration

Taking on the role of an Executor and/or POA is a big responsibility and requires a thorough understanding of the work, skills required, and personal liability assumed. We can coach your designated personal representative(s), or act as your Executor and POA should you not have someone you trust to assign to these roles.

And if you need a Will or POA, many of our clients use Epilogue to help them create their own basic Wills and Powers of Attorney (POA) documents. Epilogue may be a good option to explore if your situation is straightforward (ie/ leaving all property to spouse and/or children equally; no children from a second marriage; no family on government disability benefits; no foreign property).

We can help you to create these documents and depending on your location, serve as your Commissioner of Oaths to Commission the Affidavit of Execution.

Financial Concierge™ activities will include:

Personal Representative / Executor

Summary of Key Activities:

  • Assist the Personal Representative (or act as the Personal Representative) in administering the Estate subject to the Estate Administration Act, June 1, 2015
  • Act honestly and in good faith
  • Act in accordance with testator’s Will
  • Secure valuables in home
  • Determine if registered organ donor
  • Implement wishes regarding cremation/burial services
  • Claim any gov’t benefit and life insurance
  • Identify assets/liabilities of estate
  • Apply for probate if indicated
  • Pay the debts and obligations of the estate
  • Manage and administer estate
  • Distribute the estate and accounting to beneficiaries
  • Keep detailed records of handling of the estate
  • Provide regular updates to the beneficiaries
  • Use care, diligence, and skill that a prudent person would use
  • Secure Estate Administration insurance prior to accepting appointment as Personal Representative

Power of Attorney

Summary of Key Activities:

  • Act as Attorney with appointment as Enduring Power of Attorney (EPA) which is designed to be in effect even after the individual who created it (Donor) loses mental capacity
  • Consult with Donor while Donor is mentally capable
  • Consult with the Donor’s family and friends
  • Bill payments
  • Deposit cheques
  • Work with investment advisor to manage investments
  • Use the Donor’s assets for the Donor’s support and care
  • Work with accountant to prepare and submit Donor’s tax returns
  • Maintain Trusts for dependent children, if any
  • Manage legal, accounting and insurance matters
  • Handle other day-to-day financial affairs of client
  • Keep complete and detailed financial records
  • Provide monthly reports to Donor and family
  • Upon Donor’s death, provide all records to the Donor’s Personal Representative (Executor)
  • Secure a fiduciary bond prior to accepting appointment as Enduring Power of Attorney

Connect With Us

As a fiduciary, the Financial Concierge™ team holds a position of trust with our clients. We can coach your personal representative(s) or act as your personal representative in the management of your financial affairs and estate.

Get in touch with us by filling out the form and pressing SEND. We look forward to connecting with you!