“Mutual Funds Provided Through FundEX Investments Inc.”

Do You Need a Living Will?

    The recent events in Florida have opened up a can of worms regarding who speaks for you if you can’t speak for yourself. The legal document that allows your voice to be heard at a time where you are unable to communicate is called a Living Will.

What exactly is a Living Will? In Alberta, a Living Will by government legislation is called a Personal Directive. A Personal Directive is a written document that explains what YOU would want to happen in regards to your personal care and health care in the future. It will only take effect if you are still living but unable to make your own personal and health care decisions. Please note: a Personal Directive does not cover your financial affairs. Your financial affairs are taken care of by a Power of Attorney.

The content of a Personal Directive involves naming one or more people as your “agents” who will be responsible for making personal or health care decisions on your behalf. The Personal Directive also specifies what personal or health care choices YOU would want to take place in particular situations.

Since this is such an important legal document it needs to be completed with consultation from both your Doctor and Lawyer. You must also discuss your intentions with your “agents” so they completely under-stand your choices regarding your future personal and health care treatments. You don’t want your “agents” to be guessing about your choices in these situations.

Why do you need a Personal Directive? A Personal Directive gives YOU control over your future personal and health care decisions. And just as importantly, it gives direction to your family and loved ones, and it takes away the burden of them having to make difficult decisions. I don’t think anyone would want to go through the 15 years of court battles that the families in Florida recently incurred. The lesson to be learned here is that everyone over the age of 18 needs a Personal Directive and that it should be part of your total Financial, Estate and Retirement planning that you are creating and reviewing on a regular basis.

For a complimentary consultation, contact Laurie Tregaskis, CFP at 403 290-0940 or email ltreg@telus.net

Financial Success is a Matter of Choice not Chance.