There are a number of basic steps we can take while we are alive to ensure that some of those best laid plans that we have are carried through even if we become incapable, for whatever reason, of taking care of ourselves. While people often think of what will happen to their assets when they die, they do not often consider what will happen to their assets if they become incapable of managing those assets themselves. At McConnan Bion O'Connor & Peterson, we can give you advice on what steps you should take now to ensure that your assets and your family are protected if something unforeseen happens to you that leaves you in a condition that prevents you from exercising control over your affairs.

McConnan Bion O'Connor & Peterson can advise you on whether a Power of Attorney is appropriate for you and the ramifications of executing a Power of Attorney in favour of another family member or close friend. We can also discuss the new Representation Agreements with you and provide you with information on what you could include in a representation agreement to give your representatives instructions on how to deal with not only your financial affairs, but also your person (ie: health care, hospital care, treatment, and so forth).

McConnan Bion O'Connor & Peterson can provide advice on estate planning, from such basic things as putting certain assets in joint names to minimize probate fees on death to more sophisticated tax strategies involving living trusts, gifting, estate freezes, and other tax planning initiatives. The purpose of personal planning is to make sure there is someone responsible that can take charge of your affairs in the event of your incapacity and to carry out and to manage your affairs in accordance with your expressed wishes. If we don't take the most basic steps in our personal planning, we run the risk of leaving our affairs in a mess for our loved ones, and we invite the intervention of the Government in the form of the "Public Guardian and Trustee", who may take charge of the management of our assets in a manner that we would not have wished were we still capable. For more information on personal planning matters go to our question and answer section.