Wills & The Power of Attorney
Your Will and Power of Attorney are much more than legal documents. They are the lasting acts of stewardship and love; a wise financial decision that acknowledges your wishes to provide for your loved ones, your church, a favourite charity, and others.
When a member employs the services of a legal professional to draft or update a personal will or power of attorney, they can apply for reimbursement up to $100.
Your will and power of attorney are much more than legal documents. They are lasting acts of stewardship – and love – which acknowledge that all possessions are a God-given trust to be used to provide for your loved ones, your church and others in need.
Take care of your loved ones with the help of FaithLife Financial’s Wills/Power of Attorney benefit and create these important documents today. Every adult Member who employs the services of a legal professional to draft or update a will or power of attorney will be reimbursed up to $100 (available once every five years). Members must enclose a copy of the paid invoice for proof of payment. To apply complete and submit the Application for Wills/Power of Attorney Benefit form(PDF). Will kits do not qualify for this benefit.
A Will is a legal document through which you direct the disposition of your assets after your death.
A Power of Attorney is a legal document through which you appoint one or more individuals (usually your spouse, child, close friend or trusted advisor) to act on your behalf in financial or personal care matters if you become incapable of doing so due to accident, illness or age.
If you don’t act – the government will!
If you become mentally incapacitated and don’t have a power of attorney * – or if you die without a valid will – the government will take charge of your affairs (and charge a fee).
Without these two essential documents, you have no assurance your wishes will be respected. Your spouse or other loved ones will have no legal right to determine how your property will be used or distributed (including jointly owned assets in some provinces), guardianship of your children, charitable donations or even your medical treatment.
* Even with a power of attorney in place, a public trustee could attempt to intervene in a given situation. However, having a legal power of attorney usually precludes this possibility.
See a legal professional today!
Like insurance protection and retirement savings, a will and power of attorney are vital parts of your financial plan, providing increased security and peace of mind for you and your family. These documents can help spare your loved ones added emotional and financial hardship in the event of your death or mental incapacity.
Through a legal will and power of attorney you can:
- Direct how your assets are to be used to fulfill your wishes and stewardship obligations
- Protect your assets from abuse or undue taxation
- Name guardians for your children
- Help determine what medical care you should receive in the event of a life-threatening injury or illness
* FaithLife Financial’s benefits and programs are not contractual. They are subject to change and maximum funding limits.
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