Wills, Power of Attorney, & Personal Directives - There are no Cookie Cutter Templates! Get the Experts Help!

It is important to get the experts professional help when preparing the most important Documents of your Life!

What we hear our members and prospective members say so often when planning to prepare their Wills, Power of Attorney and Personal Directives is, “everything I own goes first to my spouse, and then equally divided between my kids.  We so often hear, everything will work out, we are a family, and they will all do what is fair.” Sadly this is usually not the case. 

What makes people avoid this necessary estate-planning document?

• Is it the cost? Law firms typically charge $500 to $1000 for a basic will, and revisions are usually at the same fee schedule.
• Or, they just don’t have the time to get around to it. You have to find a lawyer, make an appointment during their business hours, make some decisions, and make another appointment to sign documents – so much trouble!
• Perhaps you think only the super-rich have to worry about an estate, and all you have is a house and bank accounts that are in joint names.
• Regardless of the size of your estate (everything your own) everyone should have a will to ensure the distribution of your property after your death according to your wishes, and everyone needs a power of attorney, and personal directives or living will regardless if they are 18 years old or 80 years old.

If the client’s estate is comprised of the family home, investments, and money in the bank, these instructions are completely reasonable as all of these assets can be converted into cash, and then distributed in an equal manner resulting in everyone feeling that they have been treated fairly. 

However, in the case of a business family, the concept of being fair and equal presents some very difficult challenges for the family. A good example may be a farming/ranching family. Say the family owns a section of land worth $12M, the family home worth $1M, machinery worth $2M, cattle worth $1M, and they have cash/investments totally $2K, (for an estate worth $16,200,000). Let’s say their family consists of a father, mother, son, and daughter. If the father and mother both die, and leave each of their son and daughter a 50% interest in their estate that would be equal, but is that fair? The son has always worked the ranch full time he needs cash to continue to operate the ranching business; the daughter has no interest in any of the operations of the family ranch. The daughter has a life totally unrelated life to the ranch. Leaving everything in the estate to the son and daughter equally, and letting them figure it out between themselves is a recipe for destroying the family. Think about it. If the son and daughter each own half of everything, does the son need to pay his sister rent for use of the land, the barn, and all the outbuilding’s, and the equipment? How do they split a tractor, the cows, the feed etc.? 

While creating a Will and Succession plan is important, failing to consider the division of the family business and electing to avoid the necessary conversations and careful planning is irresponsible. 

I live in a ranching community, and this happens more often than not. . 

It is important to have a third party expert help prepare your Will, Power of Attorney and Personal Directives, and to take all of this into consideration, not leaving any stone unturned.  This is the most responsible thing we can do for our family, “It is the last love letter to our family, and the most important documents we ever sign, yet 8/10 North Americans do not have a current Will, Power of Attorney or Living Will or Personal Directive in place. 

Why is this? 

• They are afraid, and do not want to face their own immortality? 
• They believe it will cost too much? 
• They procrastinate on which lawyer would be best suited?
• They think they have time to do it later? 

Please contact me for information on our plan coverage, our costs, each province and state has different laws, and there is no cookie cutter Will, each person’s needs, and each person’s requirements are different.

So what makes Legalshield so different anyway?   

Just a few reasons:

1. You're hiring a whole law firm, not just a lawyer. 
2. As a member you are covered throughout Canada and the US. 
3. You have lawyers that specialize in every area of law, not just a few. You have 24x7 emergency accesses, and you have accountability and recourse if you as a member are not happy. 
4. You in most case become that lawyer or law firm’s #1 client.

Do not leave one of the most important things to chance; get the experts on your side.

Please message me or visit my website for more details, please ensure to select Canada or the United States, and your specific state or province, since plan coverage varies from state to state and province to province. Please reach out to me with any questions, clarification, or just to request more information.

https://www.legalshield.com/ca/hub/gloriahoughton