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Quick rough for Canada  goons (ontario specifically, but pretty similar). Talk to an attorney.You need 3 documents:
And multiple signed copies of each POA since evidently every organization (hospital/bank/etc) want an original when the poo poo flies. All (financial) institutions upon finding out someone is dead will lock the accounts until the courts say otherwise. I'd advise to do the same thing - someone draining an account between death and notice can be treated like criminal theft. If you've got a kid, you'll need to figure out who gets to take care of your kid and put that in the will, otherwise it becomes ugly - roughly the government starts asking relatives is from close (siblings) to further away (3rd cousin) with the mandate to attempt to keep the family together. We don't have probate, but we've got "final taxes" which is basically/roughly everything you own (ok, your estate now) gets tallied up and treated like you made that much money that final year and you owe taxes on that. Whatever is left over is handed out as per the will. If you have no will that means it's the formula: spouse 33%, remaining 66% divided among your kids. No kids = spouse gets 100%. If no agreement is made on physical assets (eg: property), then it's liquidated and the cash is distributed. The above has interesting consequences if you own a second+ property for a long time (think of parents with a cottage). If you bought for $100k decades ago and it's $1mil now, that final taxes is computed on the earning of $900k - so a tax bill of $300-400k is due. Unless the estate has that kind of cash in addition to the property, the cottage goes up for sale - this is one reason many cottage owners have life insurance policies. All of the above has many loopholes (and many that have been closed in the past decade+), but the above is rough starting point.
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Dec 22, 2023 21:35
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Leperflesh posted:How do you even determine what stuff belonged to the deceased vs. their surviving spouse? Lots of leeway in that determination by the executor (first, and if contested then the courts make the decision).
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Dec 23, 2023 01:43
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Harriet Carker posted:Is there a good site that will create a power of attorney for me to print and bring into the notary? Just get the lawyer to do it (they'll also handle the notary part) since it's a fairly standard type of document (but slightly different for each area), so it's cheap to do. As Nonexistence said, this is one of the few documents that you want to be right. (Also, the lawyer has a lot more insurance if they screwed up)
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Feb 8, 2024 22:34
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